Federated Hermes Inc. Cuts Stock Position 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. decreased its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 27.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 788,150 shares of the company's stock after selling 297,836 shares during the quarter. Federated Hermes Inc. owned 1.24% of Vera Therapeutics worth $18,931,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Huntington National Bank acquired a new position in Vera Therapeutics in the fourth quarter valued at about $26,000. GF Fund Management CO. LTD. acquired a new stake in shares of Vera Therapeutics in the fourth quarter valued at approximately $56,000. Summit Investment Advisors Inc. boosted its position in Vera Therapeutics by 16.0% in 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of Vera Therapeutics by 1,779.1% during the first quarter. GAMMA Investing LLC now owns 8,287 shares of the company's stock valued at $199,000 after acquiring an additional 7,846 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Vera Therapeutics by 19.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock valued at $229,000 after acquiring an additional 1,572 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on VERA. Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Cantor Fitzgerald lowered their price target on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. 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 research note on Monday, June 2nd. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vera Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Insider Activity

In related news, Director Patrick G. Enright bought 209,393 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were bought at an average price of $20.87 per share, with a total value of $4,370,031.91. Following the completion of the transaction, the director directly owned 3,569,522 shares in the company, valued at approximately $74,495,924.14. This represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 16.30% of the company's stock.

Vera Therapeutics Stock Performance

Shares of NASDAQ VERA traded up $0.76 during trading hours on Tuesday, reaching $21.21. 1,798,341 shares of the stock were exchanged, compared to its average volume of 1,281,127. Vera Therapeutics, Inc. has a 52 week low of $18.53 and a 52 week high of $51.61. The stock's fifty day simple moving average is $22.92 and its 200 day simple moving average is $25.41. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -7.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 27.68 and a current ratio of 27.68.

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

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.