Platinum Investment Management Ltd. Makes New $3.37 Million Investment in Vera Therapeutics, Inc. (NASDAQ:VERA)

Platinum Investment Management Ltd. purchased a new position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 209,700 shares of the company’s stock, valued at approximately $3,366,000. Platinum Investment Management Ltd. owned approximately 0.47% of Vera Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY lifted its position in Vera Therapeutics by 42.2% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 1,888 shares of the company’s stock worth $30,000 after buying an additional 560 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Vera Therapeutics by 810.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,834 shares of the company’s stock worth $38,000 after buying an additional 4,303 shares in the last quarter. UBS Group AG bought a new stake in Vera Therapeutics during the 1st quarter worth about $47,000. Legal & General Group Plc lifted its position in Vera Therapeutics by 274.8% during the 2nd quarter. Legal & General Group Plc now owns 4,898 shares of the company’s stock worth $67,000 after buying an additional 3,591 shares in the last quarter. Finally, Sandia Investment Management LP bought a new stake in Vera Therapeutics during the 1st quarter worth about $78,000. 84.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VERA shares. Wedbush upped their target price on shares of Vera Therapeutics from $12.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 11th. Jefferies Financial Group raised shares of Vera Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $18.00 to $26.00 in a report on Friday, November 10th. HC Wainwright upped their target price on shares of Vera Therapeutics from $10.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Finally, Guggenheim started coverage on shares of Vera Therapeutics in a report on Tuesday, August 15th. They issued a “buy” rating and a $27.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.20.

Vera Therapeutics Stock Performance

VERA traded up $0.05 during trading on Tuesday, hitting $13.55. The stock had a trading volume of 84,252 shares, compared to its average volume of 665,625. The company has a 50 day moving average price of $12.62 and a 200-day moving average price of $13.77. The firm has a market cap of $600.51 million, a price-to-earnings ratio of -4.66 and a beta of 0.61. Vera Therapeutics, Inc. has a one year low of $5.20 and a one year high of $21.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.97 and a quick ratio of 6.97.

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 IIb clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis.