Vera Therapeutics, Inc. (NASDAQ:VERA) Position Boosted by Prudential Financial Inc.

Prudential Financial Inc. boosted its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 33.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 83,077 shares of the company’s stock after buying an additional 20,880 shares during the period. Prudential Financial Inc.’s holdings in Vera Therapeutics were worth $3,513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of VERA. Vanguard Group Inc. increased its holdings in shares of Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock valued at $124,737,000 after acquiring an additional 369,387 shares during the last quarter. Jennison Associates LLC boosted its holdings in Vera Therapeutics by 82.0% in the fourth quarter. Jennison Associates LLC now owns 813,861 shares of the company’s stock worth $34,418,000 after purchasing an additional 366,763 shares during the period. Victory Capital Management Inc. increased its stake in Vera Therapeutics by 515.0% during the fourth quarter. Victory Capital Management Inc. now owns 235,267 shares of the company’s stock valued at $9,949,000 after purchasing an additional 197,014 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Vera Therapeutics by 41.1% during the third quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock worth $18,830,000 after purchasing an additional 124,197 shares during the period. Finally, Pier Capital LLC bought a new position in shares of Vera Therapeutics in the 3rd quarter worth about $4,573,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VERA. Guggenheim increased their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Wolfe Research started coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $64.67.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at $5,993,989.22. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 21.70% of the company’s stock.

Vera Therapeutics Stock Performance

Shares of VERA opened at $22.02 on Wednesday. Vera Therapeutics, Inc. has a 52-week low of $21.80 and a 52-week high of $51.61. The firm has a market capitalization of $1.40 billion, a PE ratio of -8.44 and a beta of 1.17. The firm has a 50-day moving average price of $30.51 and a 200 day moving average price of $38.69. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. On average, sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

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.