Northern Trust Corp Sells 36,748 Shares of 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 decreased its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VERA. GF Fund Management CO. LTD. bought a new position in Vera Therapeutics in the 4th quarter valued at about $56,000. GAMMA Investing LLC lifted its position in Vera Therapeutics by 1,779.1% in the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vera Therapeutics by 19.7% in the 1st 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 in the last quarter. Knott David M Jr bought a new position in Vera Therapeutics in the 1st quarter valued at about $240,000. Finally, XTX Topco Ltd bought a new position in Vera Therapeutics in the 1st quarter valued at about $252,000. Institutional investors own 99.21% of the company's stock.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $24.19 on Friday. 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 business has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $23.39. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61. The company has a market capitalization of $1.54 billion, a P/E ratio of -6.76 and a beta of 1.17.

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

Insider Transactions at Vera Therapeutics

In other news, Director Patrick G. Enright bought 40,607 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was acquired at an average cost of $22.35 per share, with a total value of $907,566.45. Following the completion of the transaction, the director directly owned 3,596,593 shares of the company's stock, valued at $80,383,853.55. This represents a 1.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on VERA. 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 report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus 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.

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