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

Platinum Investment Management Ltd. cut 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 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 period. Platinum Investment Management Ltd.’s holdings in Vera Therapeutics were worth $5,061,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VERA. Victory Capital Management Inc. boosted its position in Vera Therapeutics by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 38,253 shares of the company’s stock worth $1,691,000 after buying an additional 4,546 shares during the period. First Turn Management LLC raised its holdings 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 purchasing an additional 113,550 shares during the last quarter. Jennison Associates LLC raised its holdings in Vera Therapeutics by 1.3% during the 3rd quarter. Jennison Associates LLC now owns 447,098 shares of the company’s stock worth $19,762,000 after purchasing an additional 5,936 shares during the last quarter. Intech Investment Management LLC bought a new position in Vera Therapeutics during the 3rd quarter worth approximately $475,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Vera Therapeutics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after purchasing an additional 10,717 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Stock Down 2.6 %

VERA stock opened at $27.34 on Wednesday. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $32.43 and its 200 day moving average is $39.50. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -10.48 and a beta of 1.17. Vera Therapeutics, Inc. has a 1-year low of $25.99 and a 1-year high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results 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. Sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Analyst Ratings Changes

VERA has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target for the company. Guggenheim lifted their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. 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 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective for the company. 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, Vera Therapeutics has a consensus rating of “Buy” and a consensus target price of $64.67.

Insider Activity

In related news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 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 this hyperlink. Insiders own 21.70% of the company’s stock.

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.