Northern Trust Corp Trims Position in Vera Therapeutics, Inc. $VERA

Key Points

• Northern Trust Corp has reduced its holdings in Vera Therapeutics by 8.1%, selling 36,748 shares, and now owns 418,259 shares valued at approximately $10 million.
• The company reported a loss of $1.20 EPS for the last quarter, missing expectations and has an annualized P/E ratio of -6.76.
• Institutional investors collectively own 99.21% of Vera Therapeutics, indicating strong institutional confidence in the company.

Northern Trust Corp lowered its stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 8.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 418,259 shares of the company's stock after selling 36,748 shares during the quarter. Northern Trust Corp owned 0.66% of Vera Therapeutics worth $10,047,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP grew its stake in Vera Therapeutics by 31.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,437,339 shares of the company's stock valued at $60,785,000 after acquiring an additional 340,488 shares during the period. Woodline Partners LP grew its stake in Vera Therapeutics by 20.1% in the 4th quarter. Woodline Partners LP now owns 1,202,466 shares of the company's stock valued at $50,852,000 after acquiring an additional 201,573 shares during the period. Integral Health Asset Management LLC grew its stake in Vera Therapeutics by 130.0% in the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company's stock valued at $48,634,000 after acquiring an additional 650,000 shares during the period. Vestal Point Capital LP acquired a new stake in Vera Therapeutics in the 4th quarter valued at $45,462,000. Finally, Deutsche Bank AG grew its stake in Vera Therapeutics by 10.2% in the 1st quarter. Deutsche Bank AG now owns 892,859 shares of the company's stock valued at $21,446,000 after acquiring an additional 82,483 shares during the period. Institutional investors and hedge funds own 99.21% of the company's stock.

Insider Activity at Vera Therapeutics

In related news, Director Patrick G. Enright purchased 209,393 shares of Vera Therapeutics stock in a transaction dated Monday, June 23rd. The shares were acquired at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the acquisition, the director directly owned 3,569,522 shares in the company, valued at approximately $74,495,924.14. The trade was a 6.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.30% of the stock is currently owned by corporate insiders.

Vera Therapeutics Trading Up 0.7%

Shares of NASDAQ VERA traded up $0.17 during trading on Thursday, hitting $24.53. 1,008,997 shares of the company were exchanged, compared to its average volume of 1,909,494. Vera Therapeutics, Inc. has a 12-month low of $18.53 and a 12-month high of $51.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current ratio of 17.03. The company has a fifty day moving average price of $22.28 and a 200-day moving average price of $23.28. The firm has a market capitalization of $1.57 billion, a PE ratio of -6.85 and a beta of 1.17.

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

Wall Street Analysts Forecast Growth

VERA has been the topic of a number of research analyst reports. Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. HC Wainwright reaffirmed a "buy" rating and set a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Vera Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $63.00.

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.