How do I get the link text value to toggle using jQuery?

I have a large block of text with half of the text hidden. I'm using a Bootstrap 5x toggle to show and hide the block of text. This works fine.

However, I am also trying to change the button text from Show more to Show less when the toggle takes place. I have some jQuery that should work but it is not. The text does not change from Show more to Show less.

Here is the Toggle code:

<div class="collapse more-collapse" id="moreContent{sub_topic:entry_id}">
    {sub_topic:more_text}
</div>
<p><a class="red more-toggler custom-toggler me-4" data-bs-toggle="collapse" data-bs-target="#moreContent{sub_topic:entry_id}" aria-controls="moreContent" aria-expanded="false" aria-label="Toggle more-content">
Show <span>more</span><span class="hidden">less</span> &#8250;</a></p>

And here is the jQuery (running jQuery 3.7.1):

$(document).ready(function() {
    $('.hidden').removeClass('hidden').hide();
    $('.toggle-text').click(function() {
    $(this).find('span').each(function() { $(this).toggle(); });
    });
});

Solution

Your selector may be wrong, I don't see any .toggle-text in you mark up.
Below I used .custom-toggler from the anchor tag to set the click event handler.

$(document).ready(function() {
    $('.hidden').removeClass('hidden').hide();
    $('.custom-toggler').click(function() {
        $(this).find('span').toggle(); 
        $(this).parent().prev().toggleClass('collapse');
    });
});

.collapse{
    height: 1em;
    overflow: hidden;
}
[id^=moreContent]{
   white-space: pre;
}

<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.7.1/jquery.min.js"></script>
<div class="collapse more-collapse" id="moreContent{sub_topic:entry_id}">What do they got? A lot of sand
We got a hot crustacean band
Each little clam here
Know how to jam here
Under the sea
Each little slug here
Cuttin' a rug here
Under the sea
Each little snail here
Know how to wail here
That's why it's hotter
Under the water
Ya we in luck here
Down in the muck here
Under the sea
</div>
<p><a class="red more-toggler custom-toggler me-4" data-bs-toggle="collapse" data-bs-target="#moreContent{sub_topic:entry_id}" aria-controls="moreContent" aria-expanded="false" aria-label="Toggle more-content">
Show <span>more</span><span class="hidden">less</span> &#8250;</a></p>