Victory Capital Management Inc. Increases Stake in Vera Therapeutics, Inc. (NASDAQ:VERA)

Victory Capital Management Inc. grew its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 515.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,267 shares of the company’s stock after acquiring an additional 197,014 shares during the quarter. Victory Capital Management Inc. owned about 0.37% of Vera Therapeutics worth $9,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VERA. Holocene Advisors LP raised its position in Vera Therapeutics by 8.8% in the 3rd quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock worth $86,390,000 after purchasing an additional 158,451 shares during the period. Geode Capital Management LLC raised its holdings in shares of Vera Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock worth $44,415,000 after buying an additional 20,223 shares during the period. Jennison Associates LLC increased its stake 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. Charles Schwab Investment Management Inc. increased its stake in Vera Therapeutics by 19.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,665 shares of the company’s stock worth $18,213,000 after purchasing an additional 68,860 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in Vera Therapeutics by 41.1% in 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. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Trading Down 1.8 %

Vera Therapeutics stock opened at $27.66 on Friday. 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 stock has a market cap of $1.75 billion, a PE ratio of -10.60 and a beta of 1.17. The stock has a 50-day moving average of $33.31 and a two-hundred day moving average of $39.68. Vera Therapeutics, Inc. has a one year low of $25.99 and a one year high of $51.61.

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

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the sale, the chief executive officer now owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

VERA has been the topic of several recent analyst reports. Guggenheim raised their price target 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. Wolfe Research began coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group started coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company 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.