Norges Bank Acquires New Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Norges Bank acquired a new stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,593 shares of the company's stock, valued at approximately $2,055,000. Norges Bank owned about 0.08% of Vera Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in VERA. Vanguard Group Inc. lifted its position in shares of Vera Therapeutics by 14.3% in the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock valued at $124,737,000 after acquiring an additional 369,387 shares in the last quarter. Jennison Associates LLC lifted its holdings in Vera Therapeutics by 82.0% during the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company's stock valued at $34,418,000 after buying an additional 366,763 shares in the last quarter. Victory Capital Management Inc. grew its stake in Vera Therapeutics by 515.0% in the fourth quarter. Victory Capital Management Inc. now owns 235,267 shares of the company's stock worth $9,949,000 after purchasing an additional 197,014 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Vera Therapeutics by 41.1% during the third quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company's stock valued at $18,830,000 after buying an additional 124,197 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Vera Therapeutics by 71.6% during the fourth quarter. JPMorgan Chase & Co. now owns 221,485 shares of the company's stock valued at $9,367,000 after purchasing an additional 92,390 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VERA. JPMorgan Chase & Co. dropped their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Guggenheim increased their price target on Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a "buy" rating and a $58.00 target price on the stock. Finally, Wolfe Research initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price for the company. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $64.67.

Vera Therapeutics Stock Performance

Vera Therapeutics stock traded up $0.21 during midday trading on Thursday, reaching $21.45. 87,863 shares of the stock traded hands, compared to its average volume of 749,525. 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 firm has a fifty day moving average price of $26.64 and a two-hundred day moving average price of $36.84. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -8.22 and a beta of 1.28. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its 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 research analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Vera Therapeutics Company 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.