American International Group Inc. raised its position in Vera Therapeutics, Inc. (NASDAQ:VERA – Free Report) by 55.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,275 shares of the company’s stock after purchasing an additional 5,799 shares during the period. American International Group Inc.’s holdings in Vera Therapeutics were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of VERA. Carlyle Group Inc. purchased a new stake in shares of Vera Therapeutics in the 1st quarter valued at approximately $22,883,000. Commodore Capital LP purchased a new position in shares of Vera Therapeutics in the 1st quarter valued at $21,914,000. FMR LLC grew its position in shares of Vera Therapeutics by 39.7% in the 1st quarter. FMR LLC now owns 5,796,259 shares of the company’s stock valued at $44,979,000 after buying an additional 1,647,613 shares during the last quarter. International Biotechnology Trust PLC grew its position in shares of Vera Therapeutics by 256.3% in the 1st quarter. International Biotechnology Trust PLC now owns 1,002,257 shares of the company’s stock valued at $7,747,000 after buying an additional 721,000 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Vera Therapeutics by 179.3% in the 4th quarter. Millennium Management LLC now owns 1,108,649 shares of the company’s stock valued at $21,452,000 after buying an additional 711,721 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
VERA has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, August 15th. They issued a “buy” rating and a $27.00 target price on the stock. HC Wainwright increased their target price on shares of Vera Therapeutics from $10.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. Jefferies Financial Group raised shares of Vera Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $18.00 to $26.00 in a research report on Friday, November 10th. Finally, Wedbush increased their target price on shares of Vera Therapeutics from $12.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.20.
Vera Therapeutics Stock Down 1.4 %
Shares of NASDAQ:VERA opened at $13.50 on Tuesday. The stock has a market cap of $598.29 million, a P/E ratio of -4.66 and a beta of 0.61. The firm has a fifty day moving average price of $12.62 and a 200 day moving average price of $13.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.97 and a quick ratio of 6.97. Vera Therapeutics, Inc. has a 1-year low of $5.20 and a 1-year high of $21.02.
Vera Therapeutics 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 IIb clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis.
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