Vera Therapeutics, Inc. (NASDAQ:VERA) Position Boosted by Paradigm Biocapital Advisors LP

Paradigm Biocapital Advisors LP increased its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 31.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,437,339 shares of the company’s stock after buying an additional 340,488 shares during the period. Vera Therapeutics comprises approximately 2.1% of Paradigm Biocapital Advisors LP’s holdings, making the stock its 14th biggest position. Paradigm Biocapital Advisors LP’s holdings in Vera Therapeutics were worth $60,785,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Avoro Capital Advisors LLC lifted its stake in shares of Vera Therapeutics by 30.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock worth $237,247,000 after acquiring an additional 1,300,410 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Vera Therapeutics by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company’s stock valued at $185,107,000 after purchasing an additional 437,940 shares during the period. FMR LLC raised its stake in shares of Vera Therapeutics by 9.6% during the 4th quarter. FMR LLC now owns 3,053,126 shares of the company’s stock worth $129,117,000 after purchasing an additional 267,842 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Vera Therapeutics by 14.3% in the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock worth $124,737,000 after purchasing an additional 369,387 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Vera Therapeutics by 43.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,415,179 shares of the company’s stock valued at $59,848,000 after purchasing an additional 431,178 shares during the period. Institutional investors own 99.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VERA shares. Guggenheim lifted their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. HC Wainwright began coverage on shares of Vera Therapeutics in a research note on Monday, May 5th. They issued a “buy” rating and a $75.00 target price for the company. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Wolfe Research started coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 target price on the stock. Finally, Wedbush cut their target price on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $63.33.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $21.58 on Wednesday. The stock’s 50-day moving average is $23.92 and its 200-day moving average is $34.43. The stock has a market cap of $1.38 billion, a P/E ratio of -8.27 and a beta of 1.28. Vera Therapeutics, Inc. has a 1-year low of $18.53 and a 1-year high of $51.61. 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 announced its earnings results on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same quarter last year, the company posted ($0.56) earnings per share. Equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share 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.