Jennison Associates LLC Acquires Shares of 74,939 Vera Therapeutics, Inc. (NASDAQ:VERA)

Jennison Associates LLC bought a new stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 74,939 shares of the company’s stock, valued at approximately $3,231,000. Jennison Associates LLC owned about 0.14% of Vera Therapeutics as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Vera Therapeutics by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,574,390 shares of the company’s stock valued at $21,585,000 after acquiring an additional 134,125 shares during the period. SG Americas Securities LLC bought a new stake in shares of Vera Therapeutics in the fourth quarter worth about $119,000. Kynam Capital Management LP raised its position in shares of Vera Therapeutics by 23.5% during the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after purchasing an additional 694,286 shares during the period. Citigroup Inc. lifted its holdings in shares of Vera Therapeutics by 470.0% during the 3rd quarter. Citigroup Inc. now owns 57,390 shares of the company’s stock valued at $787,000 after purchasing an additional 47,322 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Vera Therapeutics in the 3rd quarter valued at approximately $1,159,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA opened at $35.06 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 28.63 and a quick ratio of 28.63. The business has a 50-day moving average of $38.44 and a 200-day moving average of $36.59. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -17.10 and a beta of 1.00. Vera Therapeutics, Inc. has a fifty-two week low of $9.24 and a fifty-two week high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). As a group, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on VERA shares. Raymond James raised their target price on shares of Vera Therapeutics from $57.00 to $68.00 and gave the stock a “strong-buy” rating in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Vera Therapeutics from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Guggenheim reiterated a “buy” rating and set a $56.00 target price on shares of Vera Therapeutics in a report on Friday, April 5th. Finally, Wedbush boosted their price target on Vera Therapeutics from $21.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $42.86.

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.