Vestal Point Capital LP Acquires Shares of 1,075,000 Vera Therapeutics, Inc. (NASDAQ:VERA)

Vestal Point Capital LP bought a new stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,075,000 shares of the company’s stock, valued at approximately $45,462,000. Vera Therapeutics makes up about 2.7% of Vestal Point Capital LP’s portfolio, making the stock its 12th largest position. Vestal Point Capital LP owned about 1.70% of Vera Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avoro Capital Advisors LLC grew its stake in Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock valued at $237,247,000 after purchasing an additional 1,300,410 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Vera Therapeutics by 11.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company’s stock valued at $185,107,000 after buying an additional 437,940 shares during the last quarter. FMR LLC boosted its stake in shares of Vera Therapeutics by 9.6% during the 4th quarter. FMR LLC now owns 3,053,126 shares of the company’s stock valued at $129,117,000 after buying an additional 267,842 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Vera Therapeutics by 14.3% during the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock worth $124,737,000 after buying an additional 369,387 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP increased its stake in shares of Vera Therapeutics by 31.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,437,339 shares of the company’s stock worth $60,785,000 after buying an additional 340,488 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. Guggenheim upped their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. HC Wainwright initiated coverage on Vera Therapeutics in a research note on Monday, May 5th. They issued a “buy” rating and a $75.00 price target for the company. Cantor Fitzgerald lowered their price objective on Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $63.33.

Vera Therapeutics Price Performance

VERA opened at $21.25 on Monday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -8.14 and a beta of 1.28. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The company’s 50-day moving average price is $23.49 and its 200 day moving average price is $33.91. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same quarter in the prior year, the company earned ($0.56) earnings per share. As a group, sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Vera Therapeutics Profile

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.