Wells Fargo & Company MN Purchases 27,573 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Wells Fargo & Company MN grew its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 229.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,576 shares of the company's stock after purchasing an additional 27,573 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Vera Therapeutics worth $1,674,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Huntington National Bank purchased a new position in Vera Therapeutics during the 4th quarter valued at about $26,000. AlphaQuest LLC bought a new position in shares of Vera Therapeutics during the fourth quarter valued at approximately $34,000. KBC Group NV lifted its stake in 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. Moors & Cabot Inc. bought a new stake in Vera Therapeutics in the fourth quarter valued at $220,000. Finally, E Fund Management Co. Ltd. boosted its holdings in Vera Therapeutics by 22.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company's stock valued at $262,000 after acquiring an additional 1,130 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Up 0.1 %

Shares of VERA traded up $0.02 on Thursday, hitting $23.39. 83,440 shares of the stock traded hands, compared to its average volume of 743,706. The company has a market capitalization of $1.49 billion, a PE ratio of -8.93 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. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The business has a 50 day simple moving average of $24.93 and a 200 day simple moving average of $35.56.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Guggenheim boosted their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Wolfe Research began coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price for the company. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a "buy" rating and a $58.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $64.67.

Vera Therapeutics Company 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.