TD Asset Management Inc Cuts Stock Holdings in Vera Therapeutics, Inc. $VERA

Key Points

• TD Asset Management Inc reduced its stake in Vera Therapeutics, Inc. by 20.6%, selling 51,890 shares to hold a total of 200,274 shares valued at approximately $4.72 million.
• Analysts have mixed views on Vera Therapeutics, with eight recommending to buy, one sell, and a current average price target of $61.50, despite recent earnings missing estimates.
• Several institutional investors, including GAMMA Investing LLC and Bank of New York Mellon Corp, have increased their holdings, indicating ongoing institutional interest in VERA, which is largely held by hedge funds and institutional investors.

TD Asset Management Inc trimmed its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,274 shares of the company's stock after selling 51,890 shares during the period. TD Asset Management Inc owned about 0.31% of Vera Therapeutics worth $4,718,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VERA. GAMMA Investing LLC boosted its position in 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 buying an additional 7,846 shares during the period. Bank of New York Mellon Corp boosted its position in Vera Therapeutics by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company's stock valued at $3,451,000 after buying an additional 1,717 shares during the period. GW&K Investment Management LLC boosted its position in Vera Therapeutics by 35.2% during the first quarter. GW&K Investment Management LLC now owns 252,240 shares of the company's stock valued at $6,059,000 after buying an additional 65,635 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Vera Therapeutics during the first quarter valued at about $293,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vera Therapeutics by 19.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock valued at $229,000 after buying an additional 1,572 shares during the period. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VERA has been the subject of several analyst reports. Bank of America began coverage on shares of Vera Therapeutics in a research report on Thursday, October 16th. They set a "buy" rating and a $48.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vera Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Vera Therapeutics in a research note on Thursday, September 18th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.50.

Vera Therapeutics Price Performance

VERA stock opened at $30.20 on Tuesday. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61. The company has a market cap of $1.93 billion, a P/E ratio of -8.44 and a beta of 1.23. The firm has a 50-day moving average of $25.68 and a 200 day moving average of $23.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly 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 in the prior year, the company earned ($0.62) EPS. On average, sell-side analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS 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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