Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 507,838 shares of the company's stock after selling 306,023 shares during the period. Jennison Associates LLC owned approximately 0.80% of Vera Therapeutics worth $12,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Huntington National Bank acquired a new position in Vera Therapeutics in the fourth quarter valued at about $26,000. GF Fund Management CO. LTD. purchased a new position in shares of Vera Therapeutics during the 4th quarter worth approximately $56,000. Summit Investment Advisors Inc. increased its holdings in Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock valued at $196,000 after purchasing an additional 639 shares during the last quarter. Optimize Financial Inc purchased a new stake in Vera Therapeutics in the fourth quarter valued at approximately $249,000. Finally, Hsbc Holdings PLC acquired a new position in Vera Therapeutics during the fourth quarter worth $264,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VERA shares. Scotiabank restated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Wedbush reduced their price target on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Cantor Fitzgerald cut their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and set a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Finally, Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $65.00.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, Director Patrick G. Enright bought 209,393 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was purchased at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the completion of the purchase, the director directly owned 3,569,522 shares in the company, valued at $74,495,924.14. This trade represents a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.30% of the company's stock.

Vera Therapeutics Stock Down 3.3%

Shares of Vera Therapeutics stock traded down $0.75 during trading on Thursday, hitting $21.88. 674,233 shares of the stock were exchanged, compared to its average volume of 1,003,491. The company has a debt-to-equity ratio of 0.10, a current ratio of 27.68 and a quick ratio of 27.68. The firm's 50-day moving average price is $22.84 and its 200 day moving average price is $26.34. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -7.29 and a beta of 1.19. 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 posted its quarterly 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 prior year, the business posted ($0.56) earnings per share. As a group, analysts forecast that Vera Therapeutics, Inc. will post -2.89 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.