Jennison Associates LLC Has $34.42 Million Stock Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Jennison Associates LLC lifted its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 82.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 813,861 shares of the company’s stock after acquiring an additional 366,763 shares during the period. Jennison Associates LLC’s holdings in Vera Therapeutics were worth $34,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Holocene Advisors LP grew its position in Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock valued at $86,390,000 after acquiring an additional 158,451 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Vera Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock valued at $44,415,000 after purchasing an additional 20,223 shares in the last quarter. Lord Abbett & CO. LLC increased its position in Vera Therapeutics by 41.1% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Vera Therapeutics by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after purchasing an additional 10,717 shares during the last quarter. Finally, First Turn Management LLC boosted its position in Vera Therapeutics by 53.3% in the third quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock valued at $14,431,000 after buying an additional 113,550 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Stock Performance

VERA stock opened at $38.07 on Wednesday. Vera Therapeutics, Inc. has a 1-year low of $31.77 and a 1-year high of $51.61. 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 50-day moving average price of $41.21 and a 200-day moving average price of $40.98. The firm has a market cap of $2.41 billion, a PE ratio of -14.59 and a beta of 1.15.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, equities research analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 in the company, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 52,500 shares of company stock valued at $2,305,625 over the last ninety days. 21.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wedbush increased their target price on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Guggenheim upped their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th. The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Vera Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $49.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $65.44.

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.