AlphaQuest LLC Invests $34,000 in Vera Therapeutics, Inc. (NASDAQ:VERA)

AlphaQuest LLC bought a new position in Vera Therapeutics, Inc. (NASDAQ:VERA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 794 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KBC Group NV lifted its holdings in shares of Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after acquiring an additional 1,387 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of Vera Therapeutics by 22.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company’s stock worth $262,000 after acquiring an additional 1,130 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Vera Therapeutics by 109.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock valued at $416,000 after buying an additional 4,914 shares during the period. Intech Investment Management LLC acquired a new position in shares of Vera Therapeutics in the third quarter valued at approximately $475,000. Finally, Arizona State Retirement System increased its stake in shares of Vera Therapeutics by 22.9% in the fourth quarter. Arizona State Retirement System now owns 12,586 shares of the company’s stock valued at $532,000 after buying an additional 2,348 shares during the period. Institutional investors own 99.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research assumed coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective for the company. Guggenheim upped their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Vera Therapeutics currently has a consensus rating of “Buy” and an average price target of $64.67.

Insider Buying and Selling at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the transaction, the chief executive officer now directly owns 143,603 shares in the company, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 21.70% of the company’s stock.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $27.08 on Friday. The company has a market capitalization of $1.73 billion, a PE ratio of -10.38 and a beta of 1.17. The company has a 50 day simple moving average of $31.65 and a two-hundred day simple moving average of $39.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. Vera Therapeutics, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Research analysts anticipate 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.