Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP trimmed its stake in Vera Therapeutics, Inc. (NASDAQ:VERA) by 85.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,243 shares of the company’s stock after selling 52,725 shares during the period. Seven Eight Capital LP’s holdings in Vera Therapeutics were worth $334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avoro Capital Advisors LLC acquired a new position in shares of Vera Therapeutics in the 1st quarter valued at $227,027,000. Kynam Capital Management LP increased its stake in Vera Therapeutics by 23.5% in the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock valued at $56,142,000 after purchasing an additional 694,286 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of Vera Therapeutics in the first quarter valued at about $103,189,000. Vanguard Group Inc. boosted its stake in shares of Vera Therapeutics by 31.5% during the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after buying an additional 515,106 shares during the period. Finally, Schroder Investment Management Group purchased a new position in shares of Vera Therapeutics during the fourth quarter worth about $17,087,000. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VERA has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Vera Therapeutics in a research report on Monday, September 16th. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $51.75.

Insider Activity

In other news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $11,548,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now owns 160,376 shares in the company, valued at $6,737,395.76. The disclosure for this sale can be found here. In the last three months, insiders sold 31,273 shares of company stock worth $1,210,750. Company insiders own 21.70% of the company’s stock.

Vera Therapeutics Price Performance

Vera Therapeutics stock opened at $42.78 on Monday. The company has a market cap of $2.34 billion, a P/E ratio of -20.87 and a beta of 0.99. Vera Therapeutics, Inc. has a one year low of $9.24 and a one year high of $50.78. The business has a fifty day moving average of $37.47 and a two-hundred day moving average of $39.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, analysts predict that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal 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.