Point72 Asset Management L.P. Boosts Stock Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Point72 Asset Management L.P. raised its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 13.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 194,027 shares of the company's stock after acquiring an additional 22,454 shares during the period. Point72 Asset Management L.P. owned approximately 0.31% of Vera Therapeutics worth $8,205,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in shares of Vera Therapeutics by 30.2% in the fourth 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 period. Price T Rowe Associates Inc. MD lifted its stake in shares of Vera Therapeutics by 11.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company's stock valued at $185,107,000 after purchasing an additional 437,940 shares during the period. FMR LLC lifted its stake in shares of Vera Therapeutics by 9.6% in 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. lifted its stake in shares of 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 during the period. Finally, Paradigm Biocapital Advisors LP lifted 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 valued at $60,785,000 after purchasing an additional 340,488 shares during the period. Institutional investors and hedge funds own 99.21% of the company's stock.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA traded up $0.01 on Friday, hitting $19.64. The company's stock had a trading volume of 1,064,297 shares, compared to its average volume of 782,385. Vera Therapeutics, Inc. has a 12-month low of $18.53 and a 12-month high of $51.61. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.52 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 stock has a 50 day moving average of $22.74 and a 200-day moving average of $33.10.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on VERA. JPMorgan Chase & Co. reduced their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Wedbush reduced their price objective on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Cantor Fitzgerald reduced their price objective on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Guggenheim raised their price objective 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. Finally, Wolfe Research began coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective for the company. One research 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 stock. Based on data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of "Buy" and an average price target of $63.33.

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.