Bank of America Corp DE Has $23.72 Million Stake in Vera Therapeutics, Inc. $VERA

Key Points

• Bank of America reduced its Vera Therapeutics stake by 15.1% in the first quarter, selling 104,635 shares. It still held 589,684 shares worth approximately $23.7 million, representing 0.82% of the company.
• Institutional investors own 99.21% of Vera’s outstanding stock, while several funds—including Royal Bank of Canada and Quantinno Capital Management—significantly increased their positions during the quarter.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $81.15 versus the stock’s reported price of $31.63. Vera reported a quarterly loss of $1.52 per share, slightly better than expectations.

Bank of America Corp DE reduced its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 589,684 shares of the company's stock after selling 104,635 shares during the quarter. Bank of America Corp DE owned about 0.82% of Vera Therapeutics worth $23,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Vera Therapeutics by 26.7% in the 1st quarter. Janus Henderson Group PLC now owns 17,658 shares of the company's stock valued at $710,000 after purchasing an additional 3,723 shares in the last quarter. ADAR1 Capital Management LLC grew its position in Vera Therapeutics by 8.8% in the first quarter. ADAR1 Capital Management LLC now owns 16,033 shares of the company's stock valued at $645,000 after acquiring an additional 1,300 shares during the last quarter. California State Teachers Retirement System grew its position in Vera Therapeutics by 31.5% in the first quarter. California State Teachers Retirement System now owns 49,737 shares of the company's stock valued at $2,001,000 after acquiring an additional 11,907 shares during the last quarter. Royal Bank of Canada raised its stake in Vera Therapeutics by 190.6% during the first quarter. Royal Bank of Canada now owns 19,987 shares of the company's stock worth $804,000 after acquiring an additional 13,108 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in Vera Therapeutics by 72.6% during the first quarter. Quantinno Capital Management LP now owns 25,639 shares of the company's stock worth $1,031,000 after acquiring an additional 10,784 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Stock Performance

NASDAQ VERA opened at $31.63 on Tuesday. The business's 50-day moving average price is $36.38 and its two-hundred day moving average price is $38.34. Vera Therapeutics, Inc. has a 12 month low of $21.15 and a 12 month high of $56.05. The firm has a market capitalization of $2.28 billion, a PE ratio of -5.40 and a beta of 0.92. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.18.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.58) by $0.06. During the same period last year, the firm posted ($1.20) earnings per share. On average, analysts expect that Vera Therapeutics, Inc. will post -6.46 EPS for the current year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 46,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $42.30, for a total transaction of $1,956,375.00. Following the completion of the transaction, the chief executive officer owned 151,994 shares in the company, valued at approximately $6,429,346.20. This trade represents a 23.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VERA shares. Raymond James Financial reiterated a "strong-buy" rating and set a $84.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, August 11th. Bank of America raised their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Evercore set a $91.00 target price on shares of Vera Therapeutics in a research note on Friday, May 15th. TD Cowen upped their price target on shares of Vera Therapeutics from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Vera Therapeutics in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Vera Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.15.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body's own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.

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