Invesco Ltd. Raises Stock Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Invesco Ltd. boosted its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,954 shares of the company’s stock after buying an additional 1,444 shares during the quarter. Invesco Ltd.’s holdings in Vera Therapeutics were worth $928,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of VERA. Federated Hermes Inc. boosted its stake in Vera Therapeutics by 162.2% in the fourth quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company’s stock valued at $45,926,000 after acquiring an additional 671,881 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock valued at $124,737,000 after purchasing an additional 369,387 shares during the last quarter. Jennison Associates LLC grew its stake in Vera Therapeutics by 82.0% during the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company’s stock worth $34,418,000 after buying an additional 366,763 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Vera Therapeutics by 47.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 841,313 shares of the company’s stock worth $35,579,000 after buying an additional 269,315 shares during the last quarter. Finally, FMR LLC increased its position in Vera Therapeutics by 9.6% during the fourth quarter. FMR LLC now owns 3,053,126 shares of the company’s stock worth $129,117,000 after buying an additional 267,842 shares during the period. Institutional investors and hedge funds own 99.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VERA. The Goldman Sachs Group started coverage on Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. cut their price target 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. Guggenheim lifted their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Wolfe Research assumed coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $64.67.

Vera Therapeutics Stock Up 1.6 %

Shares of Vera Therapeutics stock opened at $23.75 on Friday. The business has a fifty day simple moving average of $24.86 and a 200 day simple moving average of $35.43. The stock has a market cap of $1.51 billion, a PE ratio of -9.10 and a beta of 1.28. 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 $18.53 and a 12 month high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Research analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

About Vera Therapeutics

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.