Vera Therapeutics, Inc. $VERA Holdings Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 47.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,839,245 shares of the company’s stock after purchasing an additional 589,831 shares during the period. Pictet Asset Management Holding SA’s holdings in Vera Therapeutics were worth $59,397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VERA. Braidwell LP increased its holdings in shares of Vera Therapeutics by 7.8% in the second quarter. Braidwell LP now owns 564,724 shares of the company’s stock worth $24,232,000 after purchasing an additional 40,900 shares during the period. Renaissance Technologies LLC boosted its stake in Vera Therapeutics by 136.5% during the first quarter. Renaissance Technologies LLC now owns 457,300 shares of the company’s stock valued at $18,397,000 after buying an additional 263,900 shares during the period. Orbimed Advisors LLC grew its position in Vera Therapeutics by 4.6% during the first quarter. Orbimed Advisors LLC now owns 369,596 shares of the company’s stock worth $14,869,000 after buying an additional 16,096 shares in the last quarter. Readystate Asset Management LP purchased a new position in Vera Therapeutics during the second quarter worth about $12,663,000. Finally, Bank of New York Mellon Corp grew its position in Vera Therapeutics by 5.7% during the first quarter. Bank of New York Mellon Corp now owns 179,354 shares of the company’s stock worth $7,215,000 after buying an additional 9,620 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VERA. HC Wainwright lowered their price target on Vera Therapeutics from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Friday. Leerink Partners began coverage on Vera Therapeutics in a report on Monday, October 12th. They set a “market perform” rating and a $34.00 price objective for the company. Wedbush decreased their price objective on shares of Vera Therapeutics from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. Raymond James Financial set a $87.00 price objective on shares of Vera Therapeutics in a research report on Friday. Finally, JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.93.

Vera Therapeutics Stock Up 2.8%

VERA opened at $30.61 on Tuesday. The stock has a market cap of $2.21 billion, a PE ratio of -5.19 and a beta of 1.07. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. Vera Therapeutics, Inc. has a 52 week low of $26.00 and a 52 week high of $56.05. The business’s fifty day simple moving average is $31.53 and its 200 day simple moving average is $36.60.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings results on Thursday, November 5th. The company reported ($1.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.32. The firm had revenue of $10.28 million for the quarter, compared to analysts’ expectations of $3.42 million. As a group, research analysts expect that Vera Therapeutics, Inc. will post -6.45 earnings per share for the current fiscal year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 18,500 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total transaction of $684,500.00. Following the transaction, the chief executive officer directly owned 235,244 shares in the company, valued at approximately $8,704,028. This represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company’s stock.

About Vera Therapeutics

Vera Therapeutics is a clinical-stage biotechnology company developing treatments for immune-mediated diseases. Headquartered in Brisbane, California, the company focuses on therapies intended to address underlying immune processes involved in conditions with significant unmet medical needs.

Its lead investigational candidate, atacicept, is a fusion protein designed to inhibit BAFF and APRIL, proteins that support B-cell activity and antibody production. Vera is studying atacicept for IgA nephropathy and other autoimmune diseases.