KLP Kapitalforvaltning AS Makes New Investment in Vera Therapeutics, Inc. (NASDAQ:VERA)

KLP Kapitalforvaltning AS acquired a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,200 shares of the company’s stock, valued at approximately $431,000.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in Vera Therapeutics by 11.0% during the fourth quarter. American Century Companies Inc. now owns 428,940 shares of the company’s stock valued at $18,140,000 after buying an additional 42,526 shares during the period. Teacher Retirement System of Texas grew its position in shares of Vera Therapeutics by 44.2% during the 4th quarter. Teacher Retirement System of Texas now owns 12,860 shares of the company’s stock valued at $544,000 after acquiring an additional 3,942 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Vera Therapeutics by 30.3% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 22,290 shares of the company’s stock worth $938,000 after purchasing an additional 5,189 shares during the last quarter. Swiss National Bank raised its holdings in shares of Vera Therapeutics by 22.5% in the 4th quarter. Swiss National Bank now owns 85,400 shares of the company’s stock worth $3,612,000 after purchasing an additional 15,700 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in Vera Therapeutics in the fourth quarter valued at approximately $220,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VERA has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Guggenheim boosted their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Wolfe Research initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 target price 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 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $64.67.

Insider Buying and Selling

In related 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 of the company’s stock, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 21.70% of the stock is owned by company insiders.

Vera Therapeutics Price Performance

VERA stock opened at $21.31 on Friday. The firm has a 50 day moving average of $29.82 and a 200-day moving average of $38.35. The firm has a market capitalization of $1.36 billion, a P/E ratio of -8.16 and a beta of 1.17. Vera Therapeutics, Inc. has a 12 month low of $20.27 and a 12 month high of $51.61. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11. As a group, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

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.