Pictet Asset Management Holding SA Buys 269,315 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Pictet Asset Management Holding SA boosted its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 47.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 841,313 shares of the company's stock after buying an additional 269,315 shares during the quarter. Pictet Asset Management Holding SA owned 1.33% of Vera Therapeutics worth $35,579,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in VERA. AlphaQuest LLC purchased a new stake in Vera Therapeutics during the fourth quarter valued at $34,000. KBC Group NV grew its stake in shares of Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company's stock valued at $105,000 after purchasing an additional 1,387 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Vera Therapeutics during the 4th quarter valued at about $220,000. E Fund Management Co. Ltd. lifted its stake in shares of Vera Therapeutics by 22.3% in the 4th quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company's stock worth $262,000 after purchasing an additional 1,130 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Vera Therapeutics by 109.4% during the third 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. 99.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vera Therapeutics

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

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VERA shares. 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 price objective for the company. Guggenheim boosted their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $58.00 price objective for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of "Buy" and an average price target of $64.67.

Vera Therapeutics Price Performance

VERA stock traded down $2.00 during midday trading on Tuesday, hitting $22.02. The company's stock had a trading volume of 1,147,652 shares, compared to its average volume of 771,411. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.44 and a beta of 1.17. 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, Inc. has a 12 month low of $21.91 and a 12 month high of $51.61. The company has a 50 day moving average of $30.51 and a two-hundred day moving average of $38.69.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.11. On average, analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS 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.