Wellington Management Group LLP Trims Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Wellington Management Group LLP reduced its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,018 shares of the company’s stock after selling 2,053 shares during the period. Wellington Management Group LLP’s holdings in Vera Therapeutics were worth $762,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VERA. Schroder Investment Management Group boosted its position in Vera Therapeutics by 1.8% in the 4th quarter. Schroder Investment Management Group now owns 485,145 shares of the company’s stock worth $20,405,000 after purchasing an additional 8,432 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Vera Therapeutics by 47.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 841,313 shares of the company’s stock valued at $35,579,000 after purchasing an additional 269,315 shares during the period. Norges Bank purchased a new stake in Vera Therapeutics during the fourth quarter worth $2,055,000. JPMorgan Chase & Co. grew its position in Vera Therapeutics by 71.6% during the fourth quarter. JPMorgan Chase & Co. now owns 221,485 shares of the company’s stock valued at $9,367,000 after buying an additional 92,390 shares during the period. Finally, EFG Asset Management North America Corp. increased its holdings in Vera Therapeutics by 59.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 73,160 shares of the company’s stock valued at $3,092,000 after buying an additional 27,192 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Analysts Set New Price Targets

VERA has been the subject of several recent analyst reports. Wolfe Research began coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target for the company. 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 objective for the company. Guggenheim raised their target price on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. One investment 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.com, the company presently has a consensus rating of “Buy” and an average price target of $64.67.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock opened at $21.50 on Tuesday. 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 business’s 50 day moving average price is $27.25 and its 200 day moving average price is $37.06. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -8.24 and a beta of 1.28. Vera Therapeutics, Inc. has a one year low of $18.53 and a one year high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results 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 predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

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.