Jennison Associates LLC Has $19.76 Million Stock Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Jennison Associates LLC grew its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 447,098 shares of the company’s stock after purchasing an additional 5,936 shares during the period. Jennison Associates LLC’s holdings in Vera Therapeutics were worth $19,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. William Marsh Rice University acquired a new stake in shares of Vera Therapeutics in the second quarter worth about $593,000. Cambridge Trust Co. raised its stake in shares of Vera Therapeutics by 386.6% in the 1st quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock valued at $2,074,000 after acquiring an additional 38,220 shares in the last quarter. Renaissance Technologies LLC boosted its position in Vera Therapeutics by 28.5% during the second quarter. Renaissance Technologies LLC now owns 147,800 shares of the company’s stock worth $5,347,000 after purchasing an additional 32,800 shares during the period. Vanguard Group Inc. boosted its position in Vera Therapeutics by 31.5% during the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after purchasing an additional 515,106 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Vera Therapeutics during the second quarter valued at approximately $652,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Guggenheim lifted their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company started coverage on Vera Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Buy” and an average price target of $59.22.

Insider Activity

In related news, CEO Marshall Fordyce sold 15,625 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $11,548,950. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the sale, the director now directly owns 131,553 shares in the company, valued at $6,318,490.59. The trade was a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,927 shares of company stock worth $3,800,796. 21.70% of the stock is currently owned by corporate insiders.

Vera Therapeutics Trading Up 2.7 %

Vera Therapeutics stock opened at $48.31 on Friday. The business has a 50 day moving average price of $43.47 and a two-hundred day moving average price of $39.58. 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 $12.28 and a 12 month high of $51.61. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -18.51 and a beta of 1.03.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). As a group, equities analysts forecast that Vera Therapeutics, Inc. will post -2.85 EPS for the current year.

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 III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.