Millennium Management LLC Sells 218,787 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Millennium Management LLC decreased its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 73.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,648 shares of the company's stock after selling 218,787 shares during the quarter. Millennium Management LLC owned approximately 0.12% of Vera Therapeutics worth $3,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avoro Capital Advisors LLC boosted its stake in shares of Vera Therapeutics by 30.2% in 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $185,107,000 after acquiring an additional 437,940 shares during the last quarter. FMR LLC grew its holdings in Vera Therapeutics by 9.6% during the fourth quarter. FMR LLC now owns 3,053,126 shares of the company's stock valued at $129,117,000 after purchasing an additional 267,842 shares during the period. Vanguard Group Inc. increased its stake in Vera Therapeutics by 14.3% in the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock valued at $124,737,000 after purchasing an additional 369,387 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Vera Therapeutics by 43.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,415,179 shares of the company's stock worth $59,848,000 after purchasing an additional 431,178 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Guggenheim lifted their price target 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. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Wedbush reduced their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Scotiabank increased their price objective on Vera Therapeutics from $55.00 to $65.00 and gave the stock a "sector outperform" rating in a report on Monday. Finally, Wolfe Research initiated coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $65.00.

Vera Therapeutics Price Performance

Vera Therapeutics stock traded up $0.56 during mid-day trading on Wednesday, reaching $31.47. 351,190 shares of the company were exchanged, compared to its average volume of 859,195. The firm has a market cap of $2.01 billion, a PE ratio of -12.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The company has a fifty day simple moving average of $22.15 and a 200-day simple moving average of $31.86. Vera Therapeutics, Inc. has a 12 month low of $18.53 and a 12 month high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same quarter in the previous year, the business earned ($0.56) earnings per share. As a group, equities research analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Vera Therapeutics Company 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.