Platinum Investment Management Ltd. lessened its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,664 shares of the company's stock after selling 17,725 shares during the quarter. Platinum Investment Management Ltd. owned 0.19% of Vera Therapeutics worth $5,061,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Jennison Associates LLC boosted its position in shares of Vera Therapeutics by 82.0% during the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company's stock worth $34,418,000 after purchasing an additional 366,763 shares during the period. Victory Capital Management Inc. boosted its position in shares of Vera Therapeutics by 515.0% during the fourth quarter. Victory Capital Management Inc. now owns 235,267 shares of the company's stock worth $9,949,000 after buying an additional 197,014 shares during the period. Holocene Advisors LP grew its stake in shares of Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company's stock valued at $86,390,000 after buying an additional 158,451 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Vera Therapeutics by 41.1% in the 3rd 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, First Turn Management LLC lifted its stake in Vera Therapeutics by 53.3% during the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company's stock worth $14,431,000 after acquiring an additional 113,550 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Vera Therapeutics
In related news, CEO Marshall Fordyce sold 17,500 shares of the 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 sale, the chief executive officer now owns 143,603 shares in the company, valued at $5,993,989.22. This represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.70% of the company's stock.
Vera Therapeutics Stock Down 2.2 %
Shares of Vera Therapeutics stock traded down $0.62 during trading hours on Friday, hitting $27.08. The company had a trading volume of 1,141,126 shares, compared to its average volume of 730,880. The company's 50-day moving average is $31.65 and its two-hundred day moving average is $39.27. Vera Therapeutics, Inc. has a twelve month low of $25.99 and a twelve month high of $51.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The company has a market cap of $1.73 billion, a P/E ratio of -10.38 and a beta of 1.17.
Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.83) by $0.11. Analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
VERA has been the topic of a number of recent research reports. The Goldman Sachs Group started 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 on the stock. Guggenheim upped their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wolfe Research initiated coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $64.67.
Get Our Latest Analysis on VERA
About Vera Therapeutics
(
Free Report)
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.
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