Bank of America Corp DE Sells 106,673 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Bank of America Corp DE lessened its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 77.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,244 shares of the company's stock after selling 106,673 shares during the quarter. Bank of America Corp DE's holdings in Vera Therapeutics were worth $1,279,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of VERA. Barclays PLC lifted its holdings in Vera Therapeutics by 94.1% during the 3rd quarter. Barclays PLC now owns 85,395 shares of the company's stock valued at $3,774,000 after purchasing an additional 41,394 shares during the last quarter. KBC Group NV increased its holdings in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after buying an additional 1,387 shares in the last quarter. Legato Capital Management LLC raised its stake in shares of Vera Therapeutics by 56.0% in the fourth quarter. Legato Capital Management LLC now owns 13,454 shares of the company's stock valued at $569,000 after acquiring an additional 4,831 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Vera Therapeutics by 12.5% in the 4th quarter. Rhumbline Advisers now owns 58,589 shares of the company's stock worth $2,478,000 after acquiring an additional 6,515 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Vera Therapeutics by 19.5% in the 4th quarter. New York State Common Retirement Fund now owns 28,822 shares of the company's stock worth $1,219,000 after acquiring an additional 4,709 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Cantor Fitzgerald lowered their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Finally, Wedbush reduced their target price on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $65.00.

Vera Therapeutics Trading Down 2.2%

VERA traded down $0.51 during midday trading on Monday, reaching $22.19. 2,030,060 shares of the company were exchanged, compared to its average volume of 930,550. The stock has a market capitalization of $1.42 billion, a P/E ratio of -8.50 and a beta of 1.13. Vera Therapeutics, Inc. has a one year low of $18.53 and a one year high of $51.61. The stock's 50-day simple moving average is $22.40 and its 200 day simple moving average is $31.39. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the prior year, the company earned ($0.56) EPS. As a group, analysts forecast 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.