Wellington Management Group LLP Has $987,000 Stock Position in Vera Therapeutics, Inc. $VERA

Key Points

• Wellington Management cut its Vera Therapeutics stake by 61.6% in the second quarter, selling 36,866 shares and retaining 22,990 shares valued at approximately $987,000. Institutional investors and hedge funds collectively own 99.21% of the stock.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $80.15. Individual targets range from $70 to $125.
• Vera’s CEO sold 18,500 shares for about $649,720 under a pre-arranged trading plan, while the company reported a quarterly loss of $1.52 per share, slightly better than the expected $1.58 loss.

Wellington Management Group LLP reduced its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 61.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,990 shares of the company's stock after selling 36,866 shares during the quarter. Wellington Management Group LLP's holdings in Vera Therapeutics were worth $987,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in Vera Therapeutics during the fourth quarter worth about $46,000. Quantbot Technologies LP acquired a new stake in shares of Vera Therapeutics in the 2nd quarter valued at approximately $51,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Vera Therapeutics in the 4th quarter valued at approximately $71,000. Tower Research Capital LLC TRC grew its holdings in shares of Vera Therapeutics by 192.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company's stock valued at $99,000 after purchasing an additional 2,757 shares during the last quarter. Finally, Sandia Investment Management LP bought a new stake in shares of Vera Therapeutics during the 4th quarter valued at approximately $127,000. 99.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VERA. Raymond James Financial reissued a "strong-buy" rating and issued a $84.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, August 11th. Bank of America boosted their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. William Blair reiterated an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Evercore set a $91.00 price target on Vera Therapeutics in a research note on Friday, May 15th. Finally, Needham & Company LLC set a $125.00 price objective on Vera Therapeutics in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.15.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $35.12, for a total value of $649,720.00. Following the completion of the sale, the chief executive officer directly owned 235,244 shares in the company, valued at approximately $8,261,769.28. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 83,250 shares of company stock worth $3,307,800 over the last ninety days. Company insiders own 15.90% of the company's stock.

Vera Therapeutics Price Performance

VERA stock opened at $35.05 on Friday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -5.98 and a beta of 0.96. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. Vera Therapeutics, Inc. has a 12-month low of $22.72 and a 12-month high of $56.05. The company's fifty day simple moving average is $35.11 and its 200 day simple moving average is $37.18.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, topping analysts' consensus estimates of ($1.58) by $0.06. During the same period last year, the company earned ($1.20) EPS. On average, analysts expect that Vera Therapeutics, Inc. will post -6.44 earnings per share for the current year.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company's research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera's leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.

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