Fifth Third Bancorp Purchases Shares of 35,492 Vera Therapeutics, Inc. $VERA

Key Points

• Fifth Third Bancorp initiated a new stake in Vera Therapeutics during the first quarter, buying 35,492 shares worth about $1.43 million.
• Several other institutions also adjusted their holdings, and institutional ownership remains extremely high at 99.21% of the company’s stock.
• CEO Marshall Fordyce sold 46,250 shares in a pre-arranged Rule 10b5-1 trade, while analysts remain broadly positive with an average “Moderate Buy” rating and a price target of $84.58.

Fifth Third Bancorp purchased a new position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,492 shares of the company's stock, valued at approximately $1,428,000.

Several other institutional investors have also recently made changes to their positions in VERA. GAMMA Investing LLC grew its stake in shares of Vera Therapeutics by 50.5% during the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company's stock valued at $36,000 after acquiring an additional 236 shares during the period. Los Angeles Capital Management LLC bought a new stake in Vera Therapeutics during the 4th quarter worth approximately $46,000. Quantbot Technologies LP bought a new stake in Vera Therapeutics during the 2nd quarter worth approximately $51,000. Aster Capital Management DIFC Ltd purchased a new position in Vera Therapeutics during the fourth quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Vera Therapeutics by 192.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company's stock valued at $99,000 after purchasing an additional 2,757 shares in the last quarter. Institutional investors own 99.21% of the company's stock.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 46,250 shares of Vera Therapeutics stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $42.30, for a total value of $1,956,375.00. Following the sale, the chief executive officer owned 151,994 shares of the company's stock, valued at $6,429,346.20. The trade was a 23.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 83,250 shares of company stock worth $3,337,770. Company insiders own 15.90% of the company's stock.

Vera Therapeutics Stock Up 0.8%

VERA opened at $36.35 on Friday. The firm has a 50-day simple moving average of $37.04 and a two-hundred day simple moving average of $40.17. Vera Therapeutics, Inc. has a 52 week low of $19.07 and a 52 week high of $56.05. The company has a market capitalization of $2.61 billion, a PE ratio of -6.56 and a beta of 0.92. The company has a quick ratio of 13.64, a current ratio of 13.64 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($0.36). During the same period in the previous year, the company earned ($0.81) earnings per share. Analysts forecast that Vera Therapeutics, Inc. will post -6.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VERA shares. Bank of America increased their price objective on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Guggenheim lifted their target price on shares of Vera Therapeutics from $56.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. William Blair reaffirmed an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Evercore set a $91.00 price target on Vera Therapeutics in a research note on Friday, May 15th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $90.00 price target on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vera Therapeutics has an average rating of "Moderate Buy" and an average price target of $84.58.

About Vera Therapeutics

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body's own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.

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