Platinum Investment Management Ltd. Has $5.06 Million Stock Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Platinum Investment Management Ltd. decreased its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,664 shares of the company’s stock after selling 17,725 shares during the quarter. Platinum Investment Management Ltd. owned approximately 0.19% of Vera Therapeutics worth $5,061,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its stake in Vera Therapeutics by 30.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 22,290 shares of the company’s stock valued at $938,000 after buying an additional 5,189 shares during the last quarter. Swiss National Bank grew its stake in Vera Therapeutics by 22.5% in the 4th quarter. Swiss National Bank now owns 85,400 shares of the company’s stock valued at $3,612,000 after buying an additional 15,700 shares during the last quarter. Moors & Cabot Inc. acquired a new position in Vera Therapeutics in the 4th quarter valued at $220,000. AlphaQuest LLC acquired a new position in Vera Therapeutics in the 4th quarter valued at $34,000. Finally, E Fund Management Co. Ltd. grew its stake 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. Institutional investors and hedge funds own 99.21% of the company’s stock.

Insider Activity

In other news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the sale, the chief executive officer now directly owns 143,603 shares in the company, valued at approximately $5,993,989.22. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.70% of the stock is currently owned by corporate insiders.

Vera Therapeutics Price Performance

Shares of VERA opened at $27.34 on Wednesday. The firm has a market capitalization of $1.74 billion, a PE ratio of -10.48 and a beta of 1.17. The company’s 50-day moving average is $32.43 and its 200-day moving average is $39.50. Vera Therapeutics, Inc. has a fifty-two week low of $25.99 and a fifty-two week 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.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly 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. Equities analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on VERA. Wolfe Research started coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price on the stock. Wells Fargo & Company started coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target for the company. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. Guggenheim increased their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. One 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $64.67.

Vera Therapeutics 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.