Pictet Asset Management Holding SA Boosts Stock Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Pictet Asset Management Holding SA increased its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 47.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 841,313 shares of the company’s stock after acquiring an additional 269,315 shares during the period. Pictet Asset Management Holding SA owned about 1.33% of Vera Therapeutics worth $35,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VERA. AlphaQuest LLC purchased a new position in shares of Vera Therapeutics in the fourth quarter worth $34,000. KBC Group NV raised its position in Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after buying an additional 1,387 shares during the last quarter. Moors & Cabot Inc. bought a new position in Vera Therapeutics during the 4th quarter valued at about $220,000. E Fund Management Co. Ltd. boosted its holdings in shares of Vera Therapeutics by 22.3% during the 4th quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company’s stock valued at $262,000 after acquiring an additional 1,130 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Vera Therapeutics by 109.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock worth $416,000 after acquiring an additional 4,914 shares during the period. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Stock Up 0.4 %

VERA stock opened at $26.63 on Monday. The business’s 50-day moving average price is $30.93 and its 200-day moving average price is $38.88. The stock has a market cap of $1.70 billion, a P/E ratio of -10.20 and a beta of 1.17. Vera Therapeutics, Inc. has a twelve month low of $25.48 and a twelve month high of $51.61. 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 (NASDAQ:VERA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11. On average, equities research analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the sale, the chief executive officer now directly owns 143,603 shares of the company’s stock, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.