Springhill Fund Asset Management HK Co Ltd Purchases New Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 109,400 shares of the company’s stock, valued at approximately $4,627,000. Vera Therapeutics accounts for 7.5% of Springhill Fund Asset Management HK Co Ltd’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Vera Therapeutics by 3.1% in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Vera Therapeutics by 11.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company’s stock valued at $2,722,000 after acquiring an additional 6,494 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Vera Therapeutics by 44.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 171,573 shares of the company’s stock valued at $7,584,000 after acquiring an additional 52,573 shares in the last quarter. Pier Capital LLC purchased a new position in shares of Vera Therapeutics in the 3rd quarter valued at $4,573,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Vera Therapeutics by 283.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 30,911 shares of the company’s stock worth $1,366,000 after acquiring an additional 22,843 shares in the last quarter. 99.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VERA shares. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. Wolfe Research initiated coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Finally, Guggenheim increased their target price 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $64.67.

Vera Therapeutics Trading Down 6.3 %

Vera Therapeutics stock opened at $21.31 on Friday. Vera Therapeutics, Inc. has a 52 week low of $20.27 and a 52 week high of $51.61. The stock has a 50-day moving average price of $29.82 and a 200 day moving average price of $38.34. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -8.16 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value 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. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.