Bank of America Corp DE Trims Stock Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Bank of America Corp DE lowered its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 77.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VERA. Huntington National Bank purchased a new position in Vera Therapeutics during the 4th quarter valued at about $26,000. AlphaQuest LLC purchased a new position in Vera Therapeutics during the 4th quarter valued at about $34,000. KBC Group NV grew its holdings in Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company's stock valued at $105,000 after buying an additional 1,387 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Vera Therapeutics by 16.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock valued at $196,000 after buying an additional 639 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in Vera Therapeutics during the 4th quarter valued at about $220,000. Hedge funds and other institutional investors own 99.21% of the company's stock.

Vera Therapeutics Price Performance

NASDAQ:VERA traded down $7.93 during mid-day trading on Friday, reaching $22.70. The stock had a trading volume of 12,635,089 shares, compared to its average volume of 924,984. The firm has a 50 day moving average price of $22.40 and a two-hundred day moving average price of $31.60. The stock has a market capitalization of $1.45 billion, a P/E ratio of -8.70 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 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 released its earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same period in the prior year, the company posted ($0.56) earnings per share. As a group, analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Analyst Ratings Changes

VERA has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a report on Tuesday. Wedbush cut their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Finally, HC Wainwright reissued a "buy" rating and set a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $65.00.

About Vera Therapeutics

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.