California State Teachers Retirement System Acquires 6,749 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

California State Teachers Retirement System raised its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,640 shares of the company’s stock after acquiring an additional 6,749 shares during the quarter. California State Teachers Retirement System owned about 0.06% of Vera Therapeutics worth $1,719,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC raised its holdings in shares of Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock valued at $237,247,000 after purchasing an additional 1,300,410 shares in the last quarter. Vestal Point Capital LP acquired a new position in Vera Therapeutics during the fourth quarter worth $45,462,000. Lord Abbett & CO. LLC increased its position in Vera Therapeutics by 170.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company’s stock worth $48,788,000 after buying an additional 727,656 shares during the last quarter. Federated Hermes Inc. raised its holdings in Vera Therapeutics by 162.2% during the fourth quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company’s stock valued at $45,926,000 after buying an additional 671,881 shares in the last quarter. Finally, Integral Health Asset Management LLC lifted its position in shares of Vera Therapeutics by 130.0% in the fourth quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company’s stock worth $48,634,000 after buying an additional 650,000 shares during the last quarter. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Trading Down 25.9%

Shares of VERA stock opened at $22.70 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -8.70 and a beta of 1.13. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61. The firm’s fifty day simple moving average is $22.40 and its 200 day simple moving average is $31.50. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the prior year, the company posted ($0.56) EPS. As a group, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Wall Street Analyst Weigh In

VERA has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered 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. Cantor Fitzgerald lowered their price target on Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. HC Wainwright restated a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Scotiabank reaffirmed an “outperform” rating on shares of Vera Therapeutics in a report on Tuesday. Finally, Wedbush lowered their target price on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $65.00.

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.