Eastern Bank Buys New Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Eastern Bank bought a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA) during the 3rd quarter, Holdings Channel.com reports. The firm bought 56,050 shares of the company’s stock, valued at approximately $2,477,000.

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado bought a new stake in shares of Vera Therapeutics in the second quarter worth $135,000. Ameritas Investment Partners Inc. lifted its position in Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after buying an additional 688 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics during the 2nd quarter worth about $163,000. Cetera Advisors LLC acquired a new stake in shares of Vera Therapeutics in the first quarter valued at about $235,000. Finally, Capstone Investment Advisors LLC bought a new stake in Vera Therapeutics during the first quarter worth about $248,000. 99.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank assumed coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Vera Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $52.67.

Vera Therapeutics Stock Down 0.4 %

Vera Therapeutics stock opened at $40.71 on Wednesday. The company’s 50-day moving average price is $39.97 and its two-hundred day moving average price is $38.90. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.23 billion, a P/E ratio of -19.86 and a beta of 1.00. Vera Therapeutics, Inc. has a twelve month low of $9.24 and a twelve month high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, analysts expect that Vera Therapeutics, Inc. will post -2.57 EPS for the current year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $38.24, for a total value of $597,500.00. Following the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,776,849.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $38.24, for a total value of $597,500.00. Following the completion of the sale, the chief executive officer now owns 307,972 shares in the company, valued at $11,776,849.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,023 shares of company stock valued at $2,873,156. 21.70% of the stock is currently owned by corporate insiders.

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.