Fifth Third Bancorp Buys New Stake in Vera Therapeutics, Inc. $VERA

Fifth Third Bancorp bought a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 4,330 shares of the company’s stock, valued at approximately $102,000.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Vera Therapeutics by 19.9% in the 4th quarter. California State Teachers Retirement System now owns 40,640 shares of the company’s stock valued at $1,719,000 after purchasing an additional 6,749 shares during the period. Trexquant Investment LP lifted its stake in shares of Vera Therapeutics by 187.1% in the 1st quarter. Trexquant Investment LP now owns 62,777 shares of the company’s stock valued at $1,508,000 after purchasing an additional 40,913 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Vera Therapeutics in the 1st quarter valued at $326,000. Bank of New York Mellon Corp lifted its stake in shares of Vera Therapeutics by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company’s stock valued at $3,451,000 after purchasing an additional 1,717 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Vera Therapeutics by 7.9% in the 1st quarter. Rhumbline Advisers now owns 63,189 shares of the company’s stock valued at $1,518,000 after purchasing an additional 4,600 shares during the period. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VERA has been the subject of a number of research analyst reports. Wolfe Research restated a “peer perform” rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. reduced 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 report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Vera Therapeutics Price Performance

Vera Therapeutics stock opened at $28.79 on Thursday. Vera Therapeutics, Inc. has a 52-week low of $18.53 and a 52-week high of $51.61. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -8.04 and a beta of 1.23. The company has a fifty day simple moving average of $23.13 and a 200-day simple moving average of $23.08. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA) 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) EPS. On average, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal 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.