Vera Therapeutics (VERA)


Market Price (10/2/2026): $31.02 | Market Cap: $2.2 BilSector: Health Care | Industry: Biotechnology

Vera Therapeutics (VERA)


Market Price (10/2/2026): $31.02
Market Cap: $2.2 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D.

Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 24%

Key risks
VERA key risks include its dependence on [1] successful clinical trial outcomes and regulatory approval for its lead candidates, Show more.

0 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D.
1 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 24%
2 Key risks
VERA key risks include its dependence on [1] successful clinical trial outcomes and regulatory approval for its lead candidates, Show more.

VERA in ETFs

Weight = VERA's share of each fund

VTI0.00%
ITOT0.00%
IWM0.07%
XBI0.59%
IWO0.14%
IBB0.14%
VTWO0.07%
ESML0.05%
+7 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Vera Therapeutics (VERA) stock has lost about 30% since 6/30/2026 because of the following key factors:

1. Increased Competitive Landscape and Market Concerns. Despite receiving accelerated FDA approval for TRUTAKNA (atacicept-vymj) on July 7, 2026, Vera Therapeutics faced growing competitive pressure from other treatments for IgA nephropathy. Notably, Otsuka Pharmaceuticals announced plans for accelerated approval of sibeprenlimab (Voyxact), which demonstrated positive two-year eGFR data (annual slope of +0.3 mL/min/1.73 m²/year) and was noted by analysts as potentially entering the market six months earlier than atacicept, challenging Vera's market position. This intensified competition, along with the prospect of other entrants like Vertex Pharmaceuticals' povetacicept, likely dampened investor enthusiasm for TRUTAKNA's long-term sales potential following its initial market entry.

2. Significant Operating Losses and Cash Burn. Vera Therapeutics continued to report substantial net losses, characteristic of a biotechnology company in its early commercialization phase. For the fiscal Q2 2026 (ended June 30, 2026), the company reported a net loss of $109.5 million, an increase from $76.5 million in the prior year's comparable quarter. Operating expenses were $112 million in fiscal Q2 2026, and research and development spending increased by 47% to $146.1 million for the six-month period ended June 30, 2026. While the company held $499.2 million in cash, cash equivalents, and marketable securities as of June 30, 2026, analysts highlighted that the company is "quickly burning through cash," raising concerns about its financial runway amidst accelerating losses and the costs associated with commercializing a new drug.

Show more
Updated on 10/1/2026

Vera Therapeutics (VERA) stock has lost about 30% since 6/30/2026 because of the following key factors:

1. Increased Competitive Landscape and Market Concerns. Despite receiving accelerated FDA approval for TRUTAKNA (atacicept-vymj) on July 7, 2026, Vera Therapeutics faced growing competitive pressure from other treatments for IgA nephropathy. Notably, Otsuka Pharmaceuticals announced plans for accelerated approval of sibeprenlimab (Voyxact), which demonstrated positive two-year eGFR data (annual slope of +0.3 mL/min/1.73 m²/year) and was noted by analysts as potentially entering the market six months earlier than atacicept, challenging Vera's market position. This intensified competition, along with the prospect of other entrants like Vertex Pharmaceuticals' povetacicept, likely dampened investor enthusiasm for TRUTAKNA's long-term sales potential following its initial market entry.

2. Significant Operating Losses and Cash Burn. Vera Therapeutics continued to report substantial net losses, characteristic of a biotechnology company in its early commercialization phase. For the fiscal Q2 2026 (ended June 30, 2026), the company reported a net loss of $109.5 million, an increase from $76.5 million in the prior year's comparable quarter. Operating expenses were $112 million in fiscal Q2 2026, and research and development spending increased by 47% to $146.1 million for the six-month period ended June 30, 2026. While the company held $499.2 million in cash, cash equivalents, and marketable securities as of June 30, 2026, analysts highlighted that the company is "quickly burning through cash," raising concerns about its financial runway amidst accelerating losses and the costs associated with commercializing a new drug.

3. Analyst Price Target Revisions. The emerging competitive data and ongoing financial performance led to adjustments in analyst sentiment and price targets. For example, in August 2026, Goldman Sachs lowered its price target for VERA to $80 from $90, while maintaining a Buy rating, citing the need to await eGFR data and competitive updates. These revisions reflected increased caution regarding the company's valuation and future growth prospects in an increasingly crowded therapeutic area, contributing to the downward pressure on the stock.

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Stock Movement Drivers

Fundamental Drivers

The -27.8% change in VERA stock from 6/30/2026 to 10/1/2026 was primarily driven by a -0.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)630202610012026Change
Stock Price ($)42.9130.99-27.8%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)7172-0.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/1/2026
ReturnCorrelation
VERA-27.8% 
Market (SPY)2.3%9.5%
Sector (XLV)4.8%3.5%

Fundamental Drivers

The -23.0% change in VERA stock from 3/31/2026 to 10/1/2026 was primarily driven by a -8.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)331202610012026Change
Stock Price ($)40.2330.99-23.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)6672-8.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/1/2026
ReturnCorrelation
VERA-23.0% 
Market (SPY)17.8%17.0%
Sector (XLV)13.9%15.8%

Fundamental Drivers

The 6.6% change in VERA stock from 9/30/2025 to 10/1/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510012026Change
Stock Price ($)29.0630.996.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)6472-11.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/1/2026
ReturnCorrelation
VERA6.6% 
Market (SPY)15.6%26.1%
Sector (XLV)21.0%17.7%

Fundamental Drivers

The 126.0% change in VERA stock from 9/30/2023 to 10/1/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310012026Change
Stock Price ($)13.7130.99126.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)4472-38.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/1/2026
ReturnCorrelation
VERA126.0% 
Market (SPY)84.9%25.2%
Sector (XLV)35.2%20.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VERA Return132%-28%-21%175%20%-36%182%
Peers Return4%-37%34%74%71%22%220%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
VERA Win Rate62%42%50%50%42%22% 
Peers Win Rate46%42%54%56%65%53% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
VERA Max Drawdown--54%-72%-31%-56%-43% 
Peers Max Drawdown-52%-55%-54%-39%-41%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, TVTX, AUPH, OMER.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/1/2026 (YTD)

How Low Can It Go

EventVERAS&P 500
2025 US Tariff Shock
  % Loss-36.1%-18.8%
  % Gain to Breakeven56.5%23.1%
  Time to Breakeven55 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-41.2%-9.5%
  % Gain to Breakeven70.0%10.5%
  Time to Breakeven53 days24 days
2023 SVB Regional Banking Crisis
  % Loss-18.5%-6.7%
  % Gain to Breakeven22.7%7.1%
  Time to Breakeven32 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-54.3%-24.5%
  % Gain to Breakeven118.9%32.4%
  Time to Breakeven591 days427 days

Compare to VRTX, TVTX, AUPH, OMER

In The Past

Vera Therapeutics's stock fell -36.1% during the 2025 US Tariff Shock. Such a loss loss requires a 56.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventVERAS&P 500
2025 US Tariff Shock
  % Loss-36.1%-18.8%
  % Gain to Breakeven56.5%23.1%
  Time to Breakeven55 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-41.2%-9.5%
  % Gain to Breakeven70.0%10.5%
  Time to Breakeven53 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-54.3%-24.5%
  % Gain to Breakeven118.9%32.4%
  Time to Breakeven591 days427 days

Compare to VRTX, TVTX, AUPH, OMER

In The Past

Vera Therapeutics's stock fell -36.1% during the 2025 US Tariff Shock. Such a loss loss requires a 56.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Vera Therapeutics (VERA)

Vera Therapeutics, Inc. (VERA) is a clinical-stage biotechnology company focused on developing and commercializing treatments for patients afflicted with serious immunological diseases. Operating primarily in the United States, the company aims to address significant unmet medical needs within this specialized therapeutic area.

The company's primary product candidate is atacicept, a fusion protein administered via self-injection subcutaneously. Atacicept is currently undergoing a Phase IIb clinical trial, where it is being evaluated for its efficacy in treating immunoglobulin A nephropathy, a serious kidney disease with an immunological component.

Vera Therapeutics also has MAU868 in its pipeline, a monoclonal antibody that is in Phase 2 clinical trials. MAU868 is being developed as a potential treatment for BK viremia infections, further expanding the company's efforts to address complex conditions within the realm of immunology and infectious diseases.

AI Analysis | Feedback

It's like an early-stage Vertex Pharmaceuticals, but focused on developing breakthrough treatments for autoimmune kidney disease and viral infections.

Think of it as a hopeful, pre-commercial Regeneron or Biogen, exclusively focused on getting its immunological and infectious disease drugs through clinical trials.

AI Analysis | Feedback

  • Atacicept: A fusion protein in Phase IIb clinical trial for patients with immunoglobulin A nephropathy, administered as a subcutaneous injection.
  • MAU868: A monoclonal antibody currently in Phase 2 clinical trial for the treatment of BK viremia infections.

AI Analysis | Feedback

Vera Therapeutics (VERA) is a clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. Its product candidates, atacicept and MAU868, are currently in Phase IIb and Phase 2 clinical trials, respectively.

As a clinical-stage company, Vera Therapeutics is primarily engaged in research and development and has not yet commercialized any products. Therefore, the company does not currently have major customers generating revenue from product sales.

In the future, should its product candidates successfully complete clinical trials and receive regulatory approval, its customers would typically include healthcare providers, pharmacies, and potentially government healthcare programs, who would then dispense the treatments to individual patients.

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Merck KGaA, Darmstadt, Germany (MRK.DE)

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Marshall Fordyce, MD – Founder, President, Chief Executive Officer, and Director

Dr. Fordyce founded Vera Therapeutics in May 2016, which was initially known as Trucode Gene Repair, Inc.. Prior to establishing Vera Therapeutics, he served as the founder and CEO of the gene-editing company Trucode Gene Repair, Inc.. He was also an entrepreneur in residence at Kleiner Perkins Caufield and Byers. Earlier in his career, Dr. Fordyce was a Senior Director of clinical research at Gilead Sciences, Inc., where he contributed to seven new drug approvals. He led Vera Therapeutics through its initial public offering in 2021.

Sean Grant, MBA – Chief Financial Officer

Mr. Grant is responsible for managing the capital strategy for Vera Therapeutics' ongoing clinical trials. SEC filings indicate he has engaged in significant trading of the company's stock, including sales and acquisitions through option exercises. Some of these shares were acquired under the company's 2021 Employee Stock Purchase Plan.

Lauren Frenz, MBA – Chief Business Officer

Ms. Frenz oversees Vera Therapeutics' corporate development and commercial strategy. Her responsibilities include driving business development, strategic partnerships, and commercialization strategies, playing a key role in identifying opportunities and structuring collaborations for the company.

David L. Johnson, M.D. – Chief Operating Officer

Dr. Johnson serves as the Chief Operating Officer at Vera Therapeutics.

Dr. Robert M. Brenner, M.D. – Chief Medical Officer

Dr. Brenner brings over 25 years of experience as an executive in nephrology and biotechnology to Vera Therapeutics.

AI Analysis | Feedback

Key Risks to Vera Therapeutics (VERA):

  1. Clinical Trial Failure: As a clinical-stage biotechnology company, Vera Therapeutics' entire business model and future success are critically dependent on the successful development and commercialization of its product candidates. Both atacicept, currently in a Phase IIb clinical trial for immunoglobulin A nephropathy, and MAU868, which is under Phase 2 clinical trial for BK viremia infections, are subject to significant risks. There is a substantial risk that these clinical trials may not demonstrate sufficient efficacy, acceptable safety profiles, or may encounter unforeseen delays, which could ultimately prevent regulatory approval and lead to substantial financial losses.
  2. Regulatory Approval Risk: Even if clinical trials for atacicept and MAU868 achieve positive results, there is no guarantee that these product candidates will receive the necessary regulatory approvals from health authorities, such as the FDA in the United States. The regulatory approval process is rigorous, lengthy, and can be unpredictable, and a failure to obtain such approvals would prevent Vera Therapeutics from marketing and selling its products.
  3. Capital Raising and Funding Risk: Vera Therapeutics is a clinical-stage company that does not have any commercialized products generating revenue. Consequently, the company is highly dependent on its ability to raise significant additional capital to fund its ongoing research and development activities, including its costly clinical trials and general operations. A failure to secure adequate funding in the future could force the company to delay, reduce the scope of, or even abandon its development programs, impacting its ability to bring potential treatments to market.

AI Analysis | Feedback

The clear emerging threat for Vera Therapeutics stems from the recent regulatory approvals and commercialization of competing treatments for IgA nephropathy, the primary indication for Vera's lead product candidate, atacicept. These developments solidify the competitive landscape and establish market leaders well before atacicept could potentially reach the market.

  • Filspari (sparsentan) by Travere Therapeutics: This drug received accelerated approval from the FDA for the treatment of IgA nephropathy in February 2023.
  • Tarpeyo (budesonide) by Calliditas Therapeutics: This drug received accelerated approval in December 2021 and subsequently full approval in December 2023 for IgA nephropathy.

These recently approved therapies pose an emerging threat by establishing treatment precedents and capturing market share in IgA nephropathy while Vera's atacicept is still in Phase IIb clinical trials, potentially creating significant hurdles for future market entry and adoption.

AI Analysis | Feedback

Vera Therapeutics (symbol: VERA) focuses on treatments for serious immunological diseases, with its main product candidates being atacicept for immunoglobulin A nephropathy (IgAN) and MAU868 for BK viremia infections.

For **atacicept (immunoglobulin A nephropathy)**, the addressable market sizes are estimated as follows:

  • The global IgA nephropathy treatment market was valued at approximately USD 759.50 million in 2024 and is projected to reach USD 3,238.53 million by 2033, growing at a compound annual growth rate (CAGR) of 18.1% during the forecast period. Another estimate places the global market at USD 3.8 billion in 2024, expanding to USD 5.8 billion by 2030 at a CAGR of 6.5%. Still, another report valued the market at USD 46.82 billion in 2025, anticipating growth to USD 99.66 billion by 2035 with a CAGR of 7.6%.
  • In the United States, the IgA nephropathy market was valued at approximately USD 455 million in 2024 and is expected to expand with the introduction of new therapies. Another source states the U.S. market at an estimated USD 1.55 billion in 2024, projected to reach USD 2.12 billion by 2030 at a 5.4% CAGR. North America is considered the largest market, accounting for approximately 45% of the global market share, with the U.S. holding about 87% of the North American market share.

For **MAU868 (BK viremia infections)**, the addressable market sizes are identified as follows:

  • The market for BK virus infection across the top seven major markets (7MM), which include the United States, EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan, reached a value of USD 194 million in 2024. This market is projected to grow to USD 1,403.19 million by 2035, exhibiting a CAGR of 21.90% during 2025-2035. Another estimate for the same 7MM indicates the market size was USD 24 million in 2023 and is expected to reach USD 1,274.2 million by 2034, with a CAGR of 40.9%.
  • The United States holds the largest market share and patient pool for BK virus infection treatment within the 7MM. The overall market size for BK virus infection is expected to grow significantly by 2034.

AI Analysis | Feedback

Vera Therapeutics (NASDAQ: VERA) is poised for significant revenue growth over the next 2-3 years, driven primarily by the anticipated commercialization and expanded applications of its lead product candidates. The key drivers include the launch of atacicept for IgA Nephropathy, its potential expansion into other autoimmune kidney diseases, and the continued development of MAU868 for BK viremia infections.

  1. Commercial Launch of Atacicept for IgA Nephropathy (IgAN): The most significant near-term revenue driver for Vera Therapeutics is the anticipated U.S. commercial launch of atacicept for the treatment of IgA Nephropathy. Following positive Phase 3 trial results, Vera Therapeutics plans to submit a Biologics License Application (BLA) for accelerated approval to the U.S. FDA in the fourth quarter of 2025. The FDA has granted priority review to the atacicept BLA, with a Prescription Drug User Fee Act (PDUFA) target action date of July 7, 2026. A potential commercial launch in the U.S. is expected in mid-2026, assuming regulatory approval. Analysts forecast substantial revenue generation beginning in 2026, with estimates ranging from tens of millions to billions of dollars in 2026, and further significant increases in 2027 and 2028. Atacicept has the potential to be the first dual BAFF/APRIL inhibitor approved for IgAN, which could establish it as an important new standard of care.
  2. Expansion of Atacicept into Additional Autoimmune Kidney Diseases: Beyond IgAN, Vera Therapeutics is actively exploring the potential of atacicept in broader patient populations and other autoimmune kidney diseases. The company plans to initiate the PIONEER trial in 2025, which will evaluate atacicept in expanded IgAN populations, as well as in patients with anti-PLA2R positive primary membranous nephropathy (PMN) and anti-nephrin positive focal segmental glomerulosclerosis (FSGS) and minimal change disease (MCD). Successful development and potential approval in these additional indications would significantly broaden the addressable market for atacicept, contributing to further revenue growth in the later part of the 2-3 year timeframe and beyond.
  3. Advancement and Potential Commercialization of MAU868 for BK Viremia Infections: Vera Therapeutics is also developing MAU868, a monoclonal antibody targeting BK viremia infections, which is currently in Phase 2 clinical trials. Final results from the Phase 2 study of MAU868 in kidney transplant recipients with BK virus were presented in October 2022. While the commercialization timeline for MAU868 is not as immediate as atacicept, continued positive clinical development and eventual market entry for this product candidate could represent another source of revenue growth within the next 2-3 years or shortly thereafter, particularly in the transplant patient population where BK viremia can have severe consequences.

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Share Issuance

  • Vera Therapeutics raised approximately $48 million in an initial public offering (IPO) in May 2021, by pricing 4.35 million shares at $11 per share.
  • In December 2025, the company completed a follow-on public offering, generating approximately $261 million in gross proceeds through the sale of 6,138,108 shares of Class A common stock at $42.50 per share, which included the full exercise of underwriters' option to purchase additional shares.
  • As of February 2026, Vera Therapeutics maintained a sales agreement to offer up to an additional $200 million in common stock.

Inbound Investments

  • In January 2021, Vera Therapeutics secured $80 million in Series C financing, led by Abingworth LLP, with participation from several other investors.
  • As part of an out-licensing agreement for atacicept in November 2020, Merck KGaA acquired a 10% equity stake in Vera Therapeutics in a deal valued up to EUR 605 million ($711 million) in development and commercial milestones, plus royalties.
  • In June 2025, Vera Therapeutics entered into a new credit facility with Oxford Finance LLC, providing up to $500 million in term loans, with an initial funding of $75 million.

Capital Expenditures

  • Capital expenditures were reported as $5.00 million in 2021, $0.97 million in 2024, and $0.63 million in 2025.
  • The company anticipates significantly increasing capital expenditures in the future.
  • Early financing proceeds were allocated to scale manufacturing capabilities and expand the therapeutic pipeline.

Peer Outperformance in Biotechnology

VERA has outperformed 50% of its 28 Biotechnology peers over 5Y. Biotechnology ranks 2nd of 10 industries in Health Care by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Biotechnology constituents that VERA has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
14%
of 29 industry peers · 7.6% return
3Y
66%
of 29 industry peers · 139.3% return
5Y
50%
of 28 industry peers · 70.5% return
No Biotechnology peer with a comparable growth profile has beaten VERA by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is VERA's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 4 23.7%92.7%266.5% CAH 409% · MCK 360% · COR 173%
Biotechnology ← 29 40.4%88.7%70.5% ADMA 734% · PTGX 675% · KRYS 504%
Health Care Facilities 10 -0.7%57.9%53.8% THC 269% · NHC 262% · ENSG 127%
Pharmaceuticals 26 11.8%55.4%48.1% INDV 1116% · LQDA 918% · CORT 475%
Health Care Services 20 15.9%34.3%3.3% HIMS 301% · RDNT 133% · DGX 78%
Managed Health Care 6 12.3%-16.0%1.8% HQY 34% · ELV 9% · UNH 2%
Health Care Equipment 33 -4.2%1.7%-13.1% UFPT 377% · GKOS 236% · TMDX 141%
Life Sciences Tools & Services 13 21.0%34.5%-19.1% MEDP 206% · WAT 20% · TMO 16%
Health Care Supplies 12 22.0%-8.4%-38.9% LNTH 285% · HAE 45% · MMSI 19%
Health Care Technology 5 -3.9%34.5%-64.1% HSTM 6% · VEEV -2% · DOCS -64%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VERAVRTXTVTXAUPHOMERMedian
NameVera The.Vertex P.Travere .Aurinia .Omeros  
Mkt Price-508.80---508.80
Mkt Cap-129.1---129.1
Rev LTM-12,587---12,587
Op Inc LTM-4,777---4,777
FCF LTM-3,796---3,796
FCF 3Y Avg-1,957---1,957
CFO LTM-4,293---4,293
CFO 3Y Avg-2,398---2,398

Growth & Margins

VERAVRTXTVTXAUPHOMERMedian
NameVera The.Vertex P.Travere .Aurinia .Omeros  
Rev Chg LTM-10.2%---10.2%
Rev Chg 3Y Avg-9.8%---9.8%
Rev Chg Q-12.5%---12.5%
QoQ Delta Rev Chg LTM-3.0%---3.0%
Op Inc Chg LTM-2,497.9%---2,497.9%
Op Inc Chg 3Y Avg-792.2%---792.2%
Op Mgn LTM-37.9%---37.9%
Op Mgn 3Y Avg-23.9%---23.9%
QoQ Delta Op Mgn LTM--0.2%----0.2%
CFO/Rev LTM-34.1%---34.1%
CFO/Rev 3Y Avg-19.6%---19.6%
FCF/Rev LTM-30.2%---30.2%
FCF/Rev 3Y Avg-15.7%---15.7%

Valuation

VERAVRTXTVTXAUPHOMERMedian
NameVera The.Vertex P.Travere .Aurinia .Omeros  
Mkt Cap-129.1---129.1
P/S-10.3---10.3
P/Op Inc-27.0---27.0
P/EBIT-25.6---25.6
P/E-29.3---29.3
P/CFO-30.1---30.1
Total Yield-3.4%---3.4%
Dividend Yield-0.0%---0.0%
FCF Yield 3Y Avg-1.6%---1.6%
D/E-0.0---0.0
Net D/E--0.0----0.0

Returns

VERAVRTXTVTXAUPHOMERMedian
NameVera The.Vertex P.Travere .Aurinia .Omeros  
1M Rtn--7.1%----7.1%
3M Rtn--3.6%----3.6%
6M Rtn-16.0%---16.0%
12M Rtn-25.9%---25.9%
3Y Rtn-46.3%---46.3%
1M Excs Rtn--7.6%----7.6%
3M Excs Rtn--6.1%----6.1%
6M Excs Rtn--2.9%----2.9%
12M Excs Rtn-15.2%---15.2%
3Y Excs Rtn--35.0%----35.0%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
BLA761486  TRUTAKNAatacicept-vymjinjectable7072026-27.9%-27.9%-27.9%-27.9%-27.9%
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
BLA761486  TRUTAKNAatacicept-vymjinjectable7072026-27.9%-27.9%-27.9%-27.9%-27.9%

Clinical Pipeline

Drug CandidateIndicationPhase 3 TrialsEst. Primary Completion
AtaciceptIgA Nephropathy1May 2025
Active Phase 3 studies led by the company. Source: ClinicalTrials.gov · Updated 8/28/2026

Financials

Segment Financials

Operating Income by Segment
$ Mil202520242023
Therapeutics-315-167-102
Total-315-167-102


Net Income by Segment
$ Mil202520242023
Therapeutics-300-152-96
Total-300-152-96


Assets by Segment
$ Mil20242023202220212020
Therapeutics6561761318455
Total6561761318455


Price Behavior

Price Behavior
Market Price$30.99 
Market Cap ($ Bil)2.2 
First Trading Date05/14/2021 
Distance from 52W High-44.3% 
   50 Days200 Days
DMA Price$33.20$39.10
DMA Trendindeterminatedown
Distance from DMA-6.7%-20.7%
 3M1YR
Volatility59.4%60.6%
Downside Capture141.58118.18
Upside Capture-31.09107.25
Correlation (SPY)9.7%26.3%
VERA Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta2.680.510.530.791.221.33
Up Beta0.51-2.46-0.680.831.481.42
Down Beta7.506.452.171.341.160.87
Up Capture230%75%-8%23%117%370%
Bmk +ve Days6162766132424
Stock +ve Days8182454113361
Down Capture265%87%156%111%112%108%
Bmk -ve Days16263760120328
Stock -ve Days14233971138388

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VERA
VERA6.7%60.5%0.33-
Sector ETF (XLV)21.0%16.0%1.0017.7%
Equity (SPY)15.7%13.0%0.8526.1%
Gold (GLD)7.7%29.6%0.2513.5%
Commodities (DBC)43.7%20.8%1.64-13.6%
Real Estate (VNQ)1.2%13.6%-0.1612.2%
Bitcoin (BTCUSD)-27.0%44.5%-0.5820.5%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VERA
VERA13.0%86.5%0.55-
Sector ETF (XLV)6.3%15.2%0.2316.8%
Equity (SPY)13.0%17.2%0.5721.0%
Gold (GLD)18.6%18.9%0.809.7%
Commodities (DBC)10.3%19.6%0.400.5%
Real Estate (VNQ)0.4%18.9%-0.0816.2%
Bitcoin (BTCUSD)13.2%52.3%0.4314.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VERA
VERA10.7%89.9%0.64-
Sector ETF (XLV)10.4%16.7%0.5116.7%
Equity (SPY)15.3%17.9%0.7220.7%
Gold (GLD)11.6%16.4%0.5810.1%
Commodities (DBC)8.2%18.1%0.370.1%
Real Estate (VNQ)4.4%20.7%0.1715.4%
Bitcoin (BTCUSD)63.9%66.2%1.0414.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity17.0 Mil
Short Interest: % Change Since 8312026-14.3%
Average Daily Volume2.8 Mil
Days-to-Cover Short Interest6.2 days
Basic Shares Quantity71.8 Mil
Short % of Basic Shares23.7%

Earnings Returns History

Updated 9/11/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/10/2026-4.1%0.2%7.0%
5/7/2026-2.0%7.0%-11.8%
2/26/20261.6%-4.9%-3.4%
11/5/2025-1.0%22.0%84.4%
8/5/20250.9%-1.4%12.3%
5/6/2025-13.8%-11.9%25.3%
2/26/20252.5%5.5%-4.4%
11/7/20242.3%3.1%1.1%
...
SUMMARY STATS   
# Positive111212
# Negative1099
Median Positive2.5%8.3%11.7%
Median Negative-4.9%-4.9%-4.4%
Max Positive9.0%22.0%84.4%
Max Negative-13.8%-16.3%-16.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/10/2026-4.1%0.2%7.0%
5/7/2026-2.0%7.0%-11.8%
2/26/20261.6%-4.9%-3.4%
11/5/2025-1.0%22.0%84.4%
8/5/20250.9%-1.4%12.3%
5/6/2025-13.8%-11.9%25.3%
2/26/20252.5%5.5%-4.4%
11/7/20242.3%3.1%1.1%
8/8/20240.6%6.3%4.3%
5/9/2024-5.8%-5.0%-14.3%
3/20/20244.4%-4.2%-9.1%
11/9/2023-0.1%16.0%18.9%
8/10/20236.2%-7.0%-0.1%
5/11/2023-1.9%-1.4%0.9%
11/9/2022-6.0%0.2%-1.8%
8/10/20229.0%16.9%14.8%
5/16/20223.5%11.4%-16.2%
3/24/20224.8%9.6%5.2%
11/10/2021-6.6%-2.5%-2.7%
8/16/20210.4%11.6%60.3%
6/24/2021-7.5%-16.3%11.0%
SUMMARY STATS   
# Positive111212
# Negative1099
Median Positive2.5%8.3%11.7%
Median Negative-4.9%-4.9%-4.4%
Max Positive9.0%22.0%84.4%
Max Negative-13.8%-16.3%-16.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/05/202510-Q
06/30/202508/05/202510-Q
03/31/202505/07/202510-Q
12/31/202402/28/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/10/202410-Q
12/31/202303/27/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/28/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/05/202510-Q
06/30/202508/05/202510-Q
03/31/202505/07/202510-Q
12/31/202402/28/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/10/202410-Q
12/31/202303/27/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/28/202310-K
09/30/202211/09/202210-Q
06/30/202208/10/202210-Q
03/31/202205/16/202210-Q
12/31/202103/28/202210-K
09/30/202111/10/202110-Q
06/30/202108/16/202110-Q
03/31/202106/24/202110-Q
12/31/202005/17/2021424B4

Insider Activity

Updated 9/17/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Fordyce, MarshallPRESIDENT AND CEODirectSell917202637.0018,500684,5008,704,028Form
2Fordyce, MarshallPRESIDENT AND CEODirectSell904202635.1218,500649,6428,260,781Form
3Fordyce, MarshallPRESIDENT AND CEODirectSell709202642.3046,2501,956,1876,428,729Form
4Fordyce, MarshallPRESIDENT AND CEODirectSell624202637.9318,500701,7697,520,083Form
5Fordyce, MarshallPRESIDENT AND CEODirectSell513202636.7418,500679,7477,963,843Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Fordyce, MarshallPRESIDENT AND CEODirectSell917202637.0018,500684,5008,704,028Form
2Fordyce, MarshallPRESIDENT AND CEODirectSell904202635.1218,500649,6428,260,781Form
3Fordyce, MarshallPRESIDENT AND CEODirectSell709202642.3046,2501,956,1876,428,729Form
4Fordyce, MarshallPRESIDENT AND CEODirectSell624202637.9318,500701,7697,520,083Form
5Fordyce, MarshallPRESIDENT AND CEODirectSell513202636.7418,500679,7477,963,843Form
6Fordyce, MarshallPRESIDENT AND CEODirectSell415202644.0522,9511,011,05110,363,106Form
7Brenner, RobertChief Medical OfficerDirectSell225202641.982,15190,3072,138,954Form
8Young, Joseph RSVP, FINANCE, CHIEF ACCT OFFCRDirectSell225202641.983,117130,8642,717,282Form
9Grant, SeanCHIEF FINANCIAL OFFICERDirectSell225202641.984,949207,7784,793,764Form
10Fordyce, MarshallPRESIDENT AND CEODirectSell225202641.9816,925710,57810,796,706Form
11Johnson, David LeeChief Operating OfficerDirectSell225202641.982,579108,2761,919,798Form
12Turner, William DChief Regulatory OfficerDirectSell225202641.982,18791,8191,902,416Form
13Skelton, Laurence MatthewChief Commercial OfficerDirectSell225202641.981,58266,4192,696,122Form
14Turner, William DChief Regulatory OfficerDirectSell1217202550.0810,000500,7671,126,726Form
15Enright, Patrick G DirectBuy1215202542.505,882249,985249,985Form
16Turner, William DChief Regulatory OfficerDirectSell1210202545.3110,000453,0531,019,369Form
17Turner, William DChief Regulatory OfficerDirectSell1204202540.0010,000400,000900,000Form
18Carter, Jason SChief Legal OfficerDirectSell1125202527.823,864107,4981,366,983Form
19Young, Joseph RSVP, FINANCE, CHIEF ACCT OFFCRDirectSell1113202529.0615,000435,8741,390,120Form

Investor Activity (13F)

Updated Oct 2, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Kynam Capital Management, LP$136.7 Mil8.7%36Hold13F
Elmind Capital, LP$19.4 Mil5.5%34Hold13F
Avoro Capital Advisors LLC$236.9 Mil2.3%30Hold13F
Great Point Partners LLC$8.0 Mil2.0%39New13F
First Turn Management, LLC$17.0 Mil1.9%33TRIM -29.9%13F
First Light Asset Management, LLC$12.6 Mil1.1%35TRIM -63.9%13F
Alphabet Inc.$9.7 Mil0.2%27Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Great Point Partners LLC$8.0 Mil2.0%39New13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Tri Locum Partners LP$40.8 Mil5.3%15ExitedDec 31, 202513F
First Light Asset Management, LLC$12.6 Mil1.1%35TRIM -63.9%Mar 31, 202613F
First Turn Management, LLC$17.0 Mil1.9%33TRIM -29.9%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Avoro Capital Advisors LLC$236.9 Mil2.3%30Hold13F
Kynam Capital Management, LP$136.7 Mil8.7%36Hold13F
Elmind Capital, LP$19.4 Mil5.5%34Hold13F
First Turn Management, LLC$17.0 Mil1.9%33TRIM -29.9%13F
First Light Asset Management, LLC$12.6 Mil1.1%35TRIM -63.9%13F
Alphabet Inc.$9.7 Mil0.2%27Hold13F
Great Point Partners LLC$8.0 Mil2.0%39New13F
Core Cache Last Updated: 10/1/2026