Pictet Asset Management Holding SA Has $35.58 Million Stake in Vera Therapeutics, Inc. (NASDAQ:VERA)

Pictet Asset Management Holding SA boosted its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 47.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,313 shares of the company's stock after purchasing an additional 269,315 shares during the period. Pictet Asset Management Holding SA owned 1.33% of Vera Therapeutics worth $35,579,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in shares of Vera Therapeutics during the fourth quarter worth approximately $34,000. KBC Group NV lifted its holdings in Vera Therapeutics by 127.2% during 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 in the last quarter. Moors & Cabot Inc. acquired a new position in Vera Therapeutics during the 4th quarter worth $220,000. E Fund Management Co. Ltd. boosted its position in Vera Therapeutics by 22.3% in the 4th quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company's stock valued at $262,000 after buying an additional 1,130 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Vera Therapeutics by 109.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company's stock valued at $416,000 after buying an additional 4,914 shares during the period. Institutional investors own 99.21% of the company's stock.

Insiders Place Their Bets

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

Vera Therapeutics Trading Down 6.3 %

Vera Therapeutics stock traded down $1.43 during midday trading on Friday, hitting $21.31. 1,278,591 shares of the stock were exchanged, compared to its average volume of 772,193. Vera Therapeutics, Inc. has a 52 week low of $20.30 and a 52 week 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. The stock has a market capitalization of $1.36 billion, a PE ratio of -8.16 and a beta of 1.17. The company has a fifty day simple moving average of $29.82 and a two-hundred day simple moving average of $38.35.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.11. Equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim upped their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Wolfe Research began coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They set an "outperform" rating and a $49.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $58.00 price target for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $64.67.

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.