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

Jennison Associates LLC increased its stake in Vera Therapeutics, Inc. (NASDAQ:VERA) by 82.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 813,861 shares of the company’s stock after buying an additional 366,763 shares during the quarter. Jennison Associates LLC owned approximately 1.29% of Vera Therapeutics worth $34,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Holocene Advisors LP lifted its stake 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 raised its holdings 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 during the period. Lord Abbett & CO. LLC lifted its stake in Vera Therapeutics by 41.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after purchasing an additional 124,197 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after purchasing an additional 10,717 shares during the period. Finally, First Turn Management LLC increased its position in Vera Therapeutics by 53.3% during the third quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after buying an additional 113,550 shares during the last quarter. 99.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total transaction of $821,450.00. Following the sale, the chief executive officer now directly owns 85,942 shares in the company, valued at $4,034,117.48. This represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 52,500 shares of company stock worth $2,305,625. Company insiders own 21.70% of the company’s stock.

Vera Therapeutics Stock Performance

Shares of NASDAQ:VERA opened at $38.07 on Wednesday. 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, Inc. has a 12-month low of $31.77 and a 12-month high of $51.61. The company’s 50 day moving average price is $41.21 and its two-hundred day moving average price is $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 posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Equities research analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VERA. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price for the company. Wedbush upped their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Wolfe Research started coverage on Vera Therapeutics in a report on Tuesday. They set an “outperform” rating and a $49.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.