Deutsche Bank AG Purchases 82,483 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Key Points

• Deutsche Bank AG increased its holdings in Vera Therapeutics by 10.2%, acquiring an additional 82,483 shares to hold a total of 892,859 shares valued at approximately $21.4 million.
• Vera Therapeutics reported a net loss of ($1.20) EPS for the latest quarter, significantly missing analyst estimates, while the consensus rating on the stock remains a Moderate Buy with a price target of $63.00.
• Institutional investors own 99.21% of Vera Therapeutics stock, reflecting strong confidence from major financial backers in the company’s potential in developing treatments for serious immunological diseases.

Deutsche Bank AG raised its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 892,859 shares of the company's stock after buying an additional 82,483 shares during the quarter. Deutsche Bank AG owned about 1.40% of Vera Therapeutics worth $21,446,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in Vera Therapeutics by 19.9% in the 4th quarter. California State Teachers Retirement System now owns 40,640 shares of the company's stock valued at $1,719,000 after buying an additional 6,749 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Vera Therapeutics by 31.7% during the 4th quarter. Ameriprise Financial Inc. now owns 30,021 shares of the company's stock valued at $1,270,000 after purchasing an additional 7,227 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Vera Therapeutics by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company's stock valued at $3,451,000 after purchasing an additional 1,717 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Vera Therapeutics during the 4th quarter valued at approximately $264,000. Finally, Rhumbline Advisers grew its holdings in shares of Vera Therapeutics by 7.9% during the 1st quarter. Rhumbline Advisers now owns 63,189 shares of the company's stock valued at $1,518,000 after purchasing an additional 4,600 shares during the last quarter. 99.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VERA shares. HC Wainwright reaffirmed a "buy" rating and set a $85.00 price target (up from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a report on Monday, August 4th. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vera Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

Vera Therapeutics Stock Performance

NASDAQ VERA opened at $21.97 on Thursday. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -6.14 and a beta of 1.17. The company has a fifty day moving average price of $22.34 and a 200-day moving average price of $24.88.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period in the previous year, the company posted ($0.62) EPS. As a group, equities research analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity

In related news, Director Patrick G. Enright purchased 40,607 shares of Vera Therapeutics stock in a transaction that occurred on Tuesday, June 24th. The stock was bought at an average price of $22.35 per share, for a total transaction of $907,566.45. Following the completion of the transaction, the director owned 3,596,593 shares in the company, valued at $80,383,853.55. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.30% of the stock is currently owned by insiders.

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.

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