The Manufacturers Life Insurance Company Acquires 26,519 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

The Manufacturers Life Insurance Company raised its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,380 shares of the company's stock after purchasing an additional 26,519 shares during the quarter. The Manufacturers Life Insurance Company owned 0.20% of Vera Therapeutics worth $5,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in VERA. Huntington National Bank bought a new stake in Vera Therapeutics during the fourth quarter worth about $26,000. Summit Investment Advisors Inc. boosted its position in shares of Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after purchasing an additional 639 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Vera Therapeutics in the 4th quarter worth approximately $34,000. Alliancebernstein L.P. grew its stake in shares of Vera Therapeutics by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after buying an additional 800 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its position in Vera Therapeutics by 22.3% during the 4th quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company's stock valued at $262,000 after buying an additional 1,130 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company's stock.

Vera Therapeutics Stock Performance

NASDAQ:VERA traded down $0.67 during mid-day trading on Tuesday, hitting $21.82. 80,449 shares of the company traded hands, compared to its average volume of 775,549. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock's fifty day moving average price is $24.07 and its 200-day moving average price is $34.52. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -8.36 and a beta of 1.28. 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 earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the prior year, the company earned ($0.56) EPS. Research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on VERA shares. Cantor Fitzgerald dropped their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. HC Wainwright assumed coverage on Vera Therapeutics in a research report on Monday, May 5th. They issued a "buy" rating and a $75.00 price target for the company. Wolfe Research began coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Finally, Wedbush decreased their price target on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus 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.