Eastern Bank Purchases Shares of 56,050 Vera Therapeutics, Inc. (NASDAQ:VERA)

Eastern Bank bought a new position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 56,050 shares of the company's stock, valued at approximately $2,477,000. Eastern Bank owned approximately 0.10% of Vera Therapeutics at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VERA. Avoro Capital Advisors LLC bought a new stake in shares of Vera Therapeutics during the first quarter worth $227,027,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Vera Therapeutics in the 1st quarter valued at about $103,189,000. Vanguard Group Inc. lifted its holdings in shares of Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company's stock valued at $92,653,000 after purchasing an additional 515,106 shares in the last quarter. Samlyn Capital LLC boosted its position in shares of Vera Therapeutics by 90.8% during the second quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company's stock worth $44,571,000 after buying an additional 586,410 shares during the period. Finally, First Light Asset Management LLC grew its holdings in shares of Vera Therapeutics by 130.6% during the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company's stock worth $36,387,000 after buying an additional 569,590 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA traded down $0.82 during mid-day trading on Wednesday, reaching $39.89. The company had a trading volume of 951,364 shares, compared to its average volume of 882,585. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -19.33 and a beta of 1.00. The business's 50-day simple moving average is $40.02 and its 200 day simple moving average is $38.92. Vera Therapeutics, Inc. has a one year low of $9.33 and a one year high of $50.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, research analysts predict that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on VERA. Scotiabank began coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 target price on the stock. Evercore ISI raised shares of Vera Therapeutics to a "strong-buy" rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an "overweight" rating in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $107.00 price target on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $52.67.

Insiders Place Their Bets

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

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.