Jennison Associates LLC trimmed its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 37.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 507,838 shares of the company's stock after selling 306,023 shares during the quarter. Jennison Associates LLC owned about 0.80% of Vera Therapeutics worth $12,198,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in VERA. Avoro Capital Advisors LLC raised its position in shares of Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock worth $237,247,000 after purchasing an additional 1,300,410 shares during the period. Vestal Point Capital LP acquired a new stake in shares of Vera Therapeutics during the 4th quarter worth approximately $45,462,000. Lord Abbett & CO. LLC raised its position in shares of Vera Therapeutics by 170.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company's stock worth $48,788,000 after purchasing an additional 727,656 shares during the period. Federated Hermes Inc. raised its position in shares of Vera Therapeutics by 162.2% during the 4th quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company's stock worth $45,926,000 after purchasing an additional 671,881 shares during the period. Finally, Integral Health Asset Management LLC raised its position in shares of Vera Therapeutics by 130.0% during the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company's stock worth $48,634,000 after purchasing an additional 650,000 shares during the period. 99.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on VERA shares. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Scotiabank restated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. HC Wainwright restated a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald lowered their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Wedbush lowered their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $65.00.
Check Out Our Latest Stock Analysis on VERA
Vera Therapeutics Price Performance
Shares of VERA stock traded down $0.50 during mid-day trading on Tuesday, hitting $22.29. 663,064 shares of the stock traded hands, compared to its average volume of 998,885. Vera Therapeutics, Inc. has a twelve month low of $18.53 and a twelve month high of $51.61. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -7.43 and a beta of 1.19. The company's 50-day simple moving average is $22.78 and its 200-day simple moving average is $26.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 27.68 and a current ratio of 27.68.
Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued 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 business posted ($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 year.
Insider Activity
In other news, Director Patrick G. Enright purchased 209,393 shares of the stock in a transaction dated Monday, June 23rd. The shares were bought at an average cost of $20.87 per share, for a total transaction of $4,370,031.91. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 16.30% of the company's stock.
About Vera Therapeutics
(
Free Report)
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.
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