Lord Abbett & CO. LLC Increases Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Lord Abbett & CO. LLC grew its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 41.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 426,014 shares of the company's stock after buying an additional 124,197 shares during the period. Lord Abbett & CO. LLC owned 0.67% of Vera Therapeutics worth $18,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of VERA. Samlyn Capital LLC boosted its stake in Vera Therapeutics by 90.8% during the second quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company's stock valued at $44,571,000 after buying an additional 586,410 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of Vera Therapeutics by 130.6% during the 2nd quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company's stock valued at $36,387,000 after acquiring an additional 569,590 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Vera Therapeutics in the second quarter valued at $14,015,000. Logos Global Management LP increased its position in Vera Therapeutics by 65.2% in the second quarter. Logos Global Management LP now owns 950,000 shares of the company's stock worth $34,371,000 after purchasing an additional 375,000 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in Vera Therapeutics in the second quarter worth $10,492,000. Hedge funds and other institutional investors own 99.21% of the company's stock.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $38.24, for a total value of $597,500.00. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,776,849.28. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,802 shares of company stock worth $4,036,308 in the last 90 days. 21.70% of the stock is owned by corporate insiders.

Vera Therapeutics Trading Down 0.2 %

Shares of VERA stock traded down $0.09 on Monday, reaching $43.96. 357,010 shares of the company's stock were exchanged, compared to its average volume of 874,404. The company's fifty day simple moving average is $45.08 and its 200 day simple moving average is $40.41. Vera Therapeutics, Inc. has a 52 week low of $14.20 and a 52 week 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. The stock has a market capitalization of $2.78 billion, a PE ratio of -16.84 and a beta of 1.08.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on VERA shares. Evercore ISI raised shares of Vera Therapeutics to a "strong-buy" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Wedbush boosted their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Wells Fargo & Company initiated coverage on Vera Therapeutics in a research report on Thursday, November 21st. They set an "overweight" rating and a $70.00 price objective on the stock. Finally, Scotiabank started coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 target price for the company. One 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 company's stock. Based on data from MarketBeat.com, Vera Therapeutics has a consensus rating of "Buy" and a consensus price target of $59.22.

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.