Parkman Healthcare Partners LLC Acquires New Stake in Vera Therapeutics, Inc. $VERA

Key Points

• Parkman Healthcare Partners LLC has acquired a new stake in Vera Therapeutics, Inc. by purchasing 76,125 shares valued at approximately $1.8 million, representing about 0.12% ownership of the company.
• Several institutional investors have also adjusted their positions in Vera, with hedge funds owning a total of 99.21% of the company's stock.
• Despite a recent stock increase of 10.5%, Vera Therapeutics reported a quarterly loss of ($1.20) EPS, which missed analyst expectations by ($0.38).

Parkman Healthcare Partners LLC acquired a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 76,125 shares of the company's stock, valued at approximately $1,829,000. Parkman Healthcare Partners LLC owned about 0.12% of Vera Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VERA. Hsbc Holdings PLC purchased a new stake in shares of Vera Therapeutics during the fourth quarter worth $264,000. Northern Trust Corp lifted its position in shares of Vera Therapeutics by 24.6% during the fourth quarter. Northern Trust Corp now owns 455,007 shares of the company's stock worth $19,242,000 after acquiring an additional 89,707 shares in the last quarter. Algert Global LLC lifted its position in shares of Vera Therapeutics by 66.4% during the fourth quarter. Algert Global LLC now owns 38,550 shares of the company's stock worth $1,630,000 after acquiring an additional 15,386 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Vera Therapeutics by 31.7% during the fourth quarter. Ameriprise Financial Inc. now owns 30,021 shares of the company's stock worth $1,270,000 after acquiring an additional 7,227 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Vera Therapeutics during the fourth quarter worth $1,031,000. Hedge funds and other institutional investors own 99.21% of the company's stock.

Insider Buying and Selling

In related news, Director Patrick G. Enright acquired 40,607 shares of the stock in a transaction on Tuesday, June 24th. The stock was acquired at an average cost of $22.35 per share, for a total transaction of $907,566.45. Following the completion of the acquisition, the director directly owned 3,596,593 shares of the company's stock, valued at approximately $80,383,853.55. This represents a 1.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VERA has been the topic of several recent research reports. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. 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 report on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Vera Therapeutics Stock Up 10.5%

Shares of NASDAQ:VERA opened at $24.19 on Friday. The stock's 50-day moving average price is $22.19 and its 200-day moving average price is $23.39. Vera Therapeutics, Inc. has a 12-month low of $18.53 and a 12-month high of $51.61. The stock has a market capitalization of $1.54 billion, a P/E ratio of -6.76 and a beta of 1.17. The company has a current ratio of 17.03, a quick ratio of 17.03 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings data 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 quarter in the previous year, the company earned ($0.62) earnings per share. On average, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Vera Therapeutics 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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