Lord Abbett & CO. LLC Acquires 727,656 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Lord Abbett & CO. LLC lifted its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 170.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,153,670 shares of the company's stock after buying an additional 727,656 shares during the period. Lord Abbett & CO. LLC owned approximately 1.82% of Vera Therapeutics worth $48,788,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Huntington National Bank purchased a new stake in shares of Vera Therapeutics during the 4th quarter valued at about $26,000. AlphaQuest LLC bought a new position in shares of Vera Therapeutics during the 4th quarter valued at $34,000. KBC Group NV grew its holdings in shares of Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after acquiring an additional 1,387 shares during the period. Summit Investment Advisors Inc. increased its position in Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock valued at $196,000 after acquiring an additional 639 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new position in Vera Therapeutics in the fourth quarter valued at about $220,000. 99.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on VERA. Wolfe Research began coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They set an "outperform" rating and a $49.00 price target for the company. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They set a "buy" rating and a $58.00 target price for the company. JPMorgan Chase & Co. cut 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 report on Tuesday, March 4th. Finally, Guggenheim raised their target price on Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $64.67.

Vera Therapeutics Price Performance

Shares of NASDAQ:VERA traded down $0.34 during midday trading on Thursday, reaching $23.03. 260,576 shares of the company were exchanged, compared to its average volume of 744,375. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.47 billion, a PE ratio of -8.83 and a beta of 1.28. The business's fifty day moving average is $24.93 and its two-hundred day moving average is $35.56. Vera Therapeutics, Inc. has a one year low of $18.53 and a one year high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.11. As a group, analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current 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.