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

Wellington Management Group LLP trimmed its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VERA. AlphaQuest LLC purchased a new stake in shares of Vera Therapeutics in the 4th quarter valued at $34,000. KBC Group NV grew its stake in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after purchasing an additional 1,387 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Vera Therapeutics in the fourth quarter valued at $220,000. E Fund Management Co. Ltd. lifted its stake in Vera Therapeutics by 22.3% during the fourth quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company’s stock worth $262,000 after purchasing an additional 1,130 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Vera Therapeutics in the 4th quarter valued at $431,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VERA has been the topic of a number of recent research reports. Guggenheim lifted their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Finally, Wolfe Research assumed coverage on Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $64.67.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $21.50 on Tuesday. The firm has a market cap of $1.37 billion, a PE ratio of -8.24 and a beta of 1.28. The firm has a 50 day simple moving average of $27.25 and a 200-day simple moving average of $37.06. Vera Therapeutics, Inc. has a 1-year low of $18.53 and a 1-year high of $51.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. On average, equities analysts expect 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.