KLP Kapitalforvaltning AS Invests $431,000 in Vera Therapeutics, Inc. (NASDAQ:VERA)

KLP Kapitalforvaltning AS purchased a new stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) in the fourth quarter, Holdings Channel reports. The firm purchased 10,200 shares of the company’s stock, valued at approximately $431,000.

Several other institutional investors have also added to or reduced their stakes in VERA. Jennison Associates LLC boosted its holdings in shares of Vera Therapeutics by 82.0% during the fourth 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. increased its stake 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 valued at $9,949,000 after buying an additional 197,014 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Vera Therapeutics by 41.1% during the third 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. Pier Capital LLC bought a new position in shares of Vera Therapeutics during the third quarter valued at approximately $4,573,000. Finally, Raymond James Financial Inc. purchased a new stake in Vera Therapeutics in the fourth quarter worth $2,948,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Price Performance

Shares of VERA opened at $21.31 on Friday. Vera Therapeutics, Inc. has a fifty-two week low of $20.27 and a fifty-two week high of $51.61. The firm’s 50-day simple moving average is $29.82 and its two-hundred day simple moving average is $38.35. The stock has a market cap of $1.36 billion, a PE ratio of -8.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate 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 research analyst reports. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. Guggenheim boosted their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wolfe Research began 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. cut their price objective 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $64.67.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the transaction, the chief executive officer now owns 143,603 shares in the company, valued at $5,993,989.22. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 21.70% of the company’s stock.

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.