Northern Trust Corp Buys 89,707 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Northern Trust Corp boosted its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 24.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,007 shares of the company’s stock after buying an additional 89,707 shares during the period. Northern Trust Corp’s holdings in Vera Therapeutics were worth $19,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank bought a new stake in Vera Therapeutics during the 4th quarter valued at $26,000. AlphaQuest LLC bought a new position in shares of Vera Therapeutics in the fourth quarter valued at $34,000. KBC Group NV grew its holdings in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after buying an additional 1,387 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock worth $196,000 after acquiring an additional 639 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Vera Therapeutics in the 4th quarter worth about $220,000. Institutional investors own 99.21% of the company’s stock.

Analyst Ratings Changes

VERA has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Wolfe Research started coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target for the company. HC Wainwright began coverage on Vera Therapeutics in a research report on Monday, May 5th. They issued a “buy” rating and a $75.00 price objective on the stock. Wedbush decreased their target price on Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Guggenheim raised their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $63.33.

Vera Therapeutics Trading Down 4.0%

Shares of Vera Therapeutics stock opened at $21.58 on Wednesday. The company’s 50-day moving average price is $23.92 and its 200-day moving average price is $34.43. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics, Inc. has a 12-month low of $18.53 and a 12-month high of $51.61. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -8.27 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period last year, the firm posted ($0.56) EPS. On average, equities analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Vera Therapeutics Company 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.