Vera Therapeutics, Inc. $VERA Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 47.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,839,245 shares of the company’s stock after purchasing an additional 589,831 shares during the quarter. Pictet Asset Management Holding SA owned approximately 2.55% of Vera Therapeutics worth $59,397,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Readystate Asset Management LP bought a new position in shares of Vera Therapeutics during the 2nd quarter worth approximately $12,663,000. Renaissance Technologies LLC grew its holdings in shares of Vera Therapeutics by 136.5% in the first quarter. Renaissance Technologies LLC now owns 457,300 shares of the company’s stock valued at $18,397,000 after acquiring an additional 263,900 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Vera Therapeutics by 1,579.2% in the second quarter. Engineers Gate Manager LP now owns 108,139 shares of the company’s stock valued at $4,640,000 after acquiring an additional 101,699 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Vera Therapeutics by 569.1% during the second quarter. Squarepoint Ops LLC now owns 104,937 shares of the company’s stock valued at $4,503,000 after acquiring an additional 89,253 shares during the last quarter. Finally, E. Ohman J or Asset Management AB increased its position in shares of Vera Therapeutics by 99.5% during the second quarter. E. Ohman J or Asset Management AB now owns 85,777 shares of the company’s stock valued at $3,681,000 after acquiring an additional 42,787 shares during the last quarter. 99.21% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Marshall Fordyce sold 18,500 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total value of $684,500.00. Following the completion of the transaction, the chief executive officer directly owned 235,244 shares of the company’s stock, valued at $8,704,028. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on VERA. Wall Street Zen upgraded Vera Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. Guggenheim reduced their price objective on Vera Therapeutics from $76.00 to $66.00 and set a “buy” rating for the company in a research note on Friday. TD Cowen reaffirmed a “buy” rating on shares of Vera Therapeutics in a research report on Tuesday, September 15th. JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. Finally, HC Wainwright reduced their target price on shares of Vera Therapeutics from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.93.

Vera Therapeutics Price Performance

VERA opened at $30.61 on Tuesday. The firm has a 50-day moving average price of $31.53 and a 200-day moving average price of $36.60. Vera Therapeutics, Inc. has a twelve month low of $26.00 and a twelve month high of $56.05. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.19 and a beta of 1.07.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.30) EPS for the quarter, topping the consensus estimate of ($1.62) by $0.32. The business had revenue of $10.28 million during the quarter, compared to the consensus estimate of $3.42 million. Equities analysts expect that Vera Therapeutics, Inc. will post -6.45 EPS for the current year.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company developing treatments for immune-mediated diseases. Headquartered in Brisbane, California, the company focuses on therapies intended to address underlying immune processes involved in conditions with significant unmet medical needs.

Its lead investigational candidate, atacicept, is a fusion protein designed to inhibit BAFF and APRIL, proteins that support B-cell activity and antibody production. Vera is studying atacicept for IgA nephropathy and other autoimmune diseases.