Federated Hermes Inc. Cuts Stake in Vera Therapeutics, Inc. (NASDAQ:VERA)

Key Points

• Federated Hermes Inc. has reduced its stake in Vera Therapeutics, Inc. by 27.4%, now owning approximately 1.24% of the company worth about $18.93 million after selling nearly 300,000 shares.
• Vera Therapeutics reported a quarterly EPS of ($0.81), missing analysts' estimates by ($0.06), and expects an EPS of ($2.89) for the current year.
• Analysts have varied price targets for VERA stock, with a consensus rating of "Buy" and an average target price of $65.00, showing optimism despite recent adjustments.

Federated Hermes Inc. reduced its stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 27.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 788,150 shares of the company's stock after selling 297,836 shares during the period. Federated Hermes Inc. owned approximately 1.24% of Vera Therapeutics worth $18,931,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VERA. Huntington National Bank purchased a new stake in shares of Vera Therapeutics in the fourth quarter worth $26,000. GF Fund Management CO. LTD. purchased a new stake in shares of Vera Therapeutics in the fourth quarter worth $56,000. Summit Investment Advisors Inc. grew its stake in shares of Vera Therapeutics by 16.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after acquiring an additional 639 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Vera Therapeutics by 1,779.1% in the first quarter. GAMMA Investing LLC now owns 8,287 shares of the company's stock worth $199,000 after acquiring an additional 7,846 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Vera Therapeutics by 19.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock worth $229,000 after acquiring an additional 1,572 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Down 1.4%

VERA stock opened at $20.79 on Friday. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The business's 50-day moving average is $22.87 and its two-hundred day moving average is $25.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 27.68 and a current ratio of 27.68. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -6.93 and a beta of 1.19.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same period last year, the firm posted ($0.56) earnings per share. As a group, analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Activity

In other Vera Therapeutics news, Director Patrick G. Enright bought 40,607 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was purchased 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 of the company's stock, valued at $80,383,853.55. This trade represents a 1.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 16.30% of the company's stock.

Analysts Set New Price Targets

VERA has been the topic of a number of research analyst reports. Cantor Fitzgerald lowered their price target on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Wedbush lowered their price target on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $65.00.

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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