VERA
Vera Therapeutics, Inc.Healthcare·Biotechnology
$35.52
$2.5B market cap
Revenue
$0.0M
Free Cash Flow
$-176.8M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Vera Therapeutics, Inc., a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases in the United States. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase IIb clinical trial for patients with immunoglobulin A nephropathy. It is also developing MAU868, a monoclonal antibody for the treatment of BK viremia infections and is under Phase 2 clinica
2-Year Price History
$34.04-10.4%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -125.1 | -125.1 | -121.0 | -106.5 | -106.7 | -0.2 | 596.8 | 75.0 | 71.5 | -305.9% | -68.6x | -- |
| Act | 2025-Q4 | 0.0 | -85.3 | -94.2 | -91.1 | -70.0 | -70.1 | -0.1 | 714.6 | 77.3 | 64.2 | -137.7% | -15.2x | -- |
Valuation & Metrics
Market Stats
Price$35.52
Market Cap$2.5B
Enterprise Value$2.0B
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-6.9%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-212.1M
Free Cash Flow$-176.8M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-221.8%
WC Change % Rev0.0%
Interest Coverage-28.3x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares9.4M
Days to Cover9.5
Change (vs Prior)-4.9%
Need at least 2 settlement dates for chart
Employees
Headcount152
Revenue / Employee$0
Gross Profit / Employee$5,730
Cash Runway
40.5months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
94.2%(+43.4% YoY)
208 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
23.7%(+13.4% YoY)
11 filers
Vanguard, iShares, SPDR
Market makers
0.3%(+0.1% YoY)
6 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Avoro Capital Advisors LLC | $237M | $41.12 | +$0 | +$7.5M | +1.3% | $10.15B |
| BlackRock, Inc.Passive | $205M | $43.40 | +$10.6M | +$44.1M | -0.2% | $5.69T |
| PRICE T ROWE ASSOCIATES INC /MD/ | $184M | $42.78 | −$35.7M | −$7.3M | -0.2% | $864.93B |
| Deep Track Capital, LP | $165M | $47.38 | +$51.7M | +$165M | -1.2% | $4.85B |
| DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) | $150M | $22.23 | −$13.6M | +$107M | -0.9% | $7.18B |
| Kynam Capital Management, LP | $137M | $16.87 | −$1.4M | +$40.2M | -0.0% | $1.58B |
| STATE STREET CORPPassive | $135M | $26.50 | +$27.6M | +$51.5M | -0.2% | $2.89T |
| Sofinnova Investments, Inc. | $112M | $7.76 | +$0 | +$0 | +2.5% | $1.94B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $108M | $40.23 | +$108M | +$108M | — | $4.04T |
| FMR LLC | $108M | $17.90 | −$8.4M | −$22.4M | -0.0% | $1.89T |
| Eversept Partners, LP | $87.4M | $19.94 | −$36.2M | +$11.0M | -0.5% | $1.52B |
| Bellevue Group AG | $68.8M | $50.56 | +$508K | +$68.8M | -4.3% | $4.20B |
| ALLIANCEBERNSTEIN L.P. | $66.6M | $48.69 | +$3.8M | +$64.5M | -0.3% | $307.70B |
| Integral Health Asset Management, LLC | $64.4M | $38.40 | −$8.0M | +$18.1M | -0.5% | $1.64B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $63.2M | $28.22 | +$5.0M | +$14.8M | +2.3% | $1.61T |
| Vestal Point Capital, LP | $55.0M | $32.35 | +$32.9M | −$45.5M | +0.0% | $3.58B |
| Point72 Asset Management, L.P. | $48.7M | $26.74 | −$21.2M | +$48.7M | +0.9% | $54.88B |
| GOLDMAN SACHS GROUP INC | $45.6M | $29.60 | +$531K | +$25.3M | -0.2% | $760.93B |
| Pictet Asset Management Holding SA | $42.3M | $21.70 | −$13.7M | +$8.5M | -1.1% | $94.52B |
| Woodline Partners LP | $40.3M | $18.95 | +$30K | +$8K | -0.1% | $26.43B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.17%
avg per quarter
Holders (ex-self)
-0.20%
excl. this stock
Buyers (this Q)
-0.73%
79 buyers · $0.33B in
Sellers (this Q)
-1.10%
77 sellers · $0.64B out
alpha coverage: 95% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+25.7%
how holders react when this stock falls
On quiet Qs
-7.6%
−10% to +10% baseline
On rallies (+10%+)
-22.7%
how they react when this stock rises
Holders' portfolio flow this Q
-0.1%
outflows — trims may be forced
Sellers' portfolio flow this Q
-2.4%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-2.4%
Holder mid (any stock)
-3.2%
Holder rally (any stock)
-7.5%
Biggest decreases this quarter
Holocene Advisors, LPexited−$66.2MTri Locum Partners LPexited−$40.8MEversept Partners, LP−$36.2Mα-0.5PRICE T ROWE ASSOCIATES INC /MD/−$35.7Mα-0.2Rhenman & Partners Asset Management ABexited−$21.3MPoint72 Asset Management, L.P.−$21.2Mα+0.9Pictet Asset Management Holding SA−$13.7Mα-1.1DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)−$13.6Mα-0.9FMR LLC−$8.4Mα-0.0Integral Health Asset Management, LLC−$8.0Mα-0.5
New buyers this quarter
Top-5 holders · 32.2%
Avoro Capital Advisors LLC--
BlackRock, Inc.--
PRICE T ROWE ASSOCIATES INC /MD/--
Deep Track Capital, LP--
DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Avoro Capital Advisors LLC5.9MPRICE T ROWE ASSOCIATES INC /MD/4.6MDEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)3.7MKynam Capital Management, LP3.4MDeep Track Capital, LP4.1MEversept Partners, LP2.2MFMR LLC2.7MSofinnova Investments, Inc.2.8MCommodore Capital LP—Integral Health Asset Management, LLC1.6M
Related Stocks
Investors who own this also own
Stocks held by the same active managers as this one, ranked by score — how much more often these appear together than random chance (1× = baseline). Excludes index ETFs and market makers; minimum 3 shared holders.
| Ticker | Name | Co-holders | Score |
|---|---|---|---|
| MLTX | MoonLake Immunotherapeutics | 4 | 193.09× |
| BEAM | Beam Therapeutics Inc. | 3 | 177.00× |
| BCRX | BioCryst Pharmaceuticals, Inc. | 4 | 177.00× |
| KALV | KalVista Pharmaceuticals, Inc. | 4 | 163.38× |
| APLS | Apellis Pharmaceuticals, Inc. | 4 | 118.00× |
| ARWR | Arrowhead Pharmaceuticals, Inc. | 3 | 113.79× |
| PCVX | Vaxcyte, Inc. | 5 | 110.63× |
| RYTM | Rhythm Pharmaceuticals, Inc. | 3 | 99.56× |
| IONS | Ionis Pharmaceuticals, Inc. | 4 | 96.55× |
| CLDX | Celldex Therapeutics, Inc. | 3 | 93.71× |
| SNDX | Syndax Pharmaceuticals, Inc. | 3 | 93.71× |
| UTHR | United Therapeutics Corporation | 6 | 81.69× |
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$91.0015620.0%
Last Year (7 analysts)$77.7111880.0%
Current Price$35.52
Analyst Ratings
12
Strong Buy: 1Buy: 12Hold: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$5.53M
3 txns · 1 insider · 255,882 sh
Sells ($, 12mo)
$4.99M
14 txns · 8 insiders · 123,805 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-12 | SELL | Fordyce Marshall | director, officer: PRESIDENT AND CEO | 18,500 | $36.74 | $680K | $7.96M |
| 2026-04-14 | SELL | Fordyce Marshall | director, officer: PRESIDENT AND CEO | 22,951 | $44.05 | $1.01M | $10.36M |
| 2026-02-23 | SELL | JOHNSON DAVID LEE | officer: Chief Operating Officer | 2,579 | $41.98 | $108K | $1.92M |
| 2026-02-23 | SELL | Turner William D. | officer: Chief Regulatory Officer | 2,187 | $41.98 | $92K | $1.90M |
| 2026-02-23 | SELL | Skelton Laurence Matthew | officer: Chief Commercial Officer | 1,582 | $41.98 | $66K | $2.70M |
| 2026-02-23 | SELL | Young Joseph R | officer: SVP, FINANCE, CHIEF ACCT OFFCR | 3,117 | $41.98 | $131K | $2.72M |
| 2026-02-23 | SELL | Grant Sean | officer: CHIEF FINANCIAL OFFICER | 4,949 | $41.98 | $208K | $4.79M |
| 2026-02-23 | SELL | Fordyce Marshall | director, officer: PRESIDENT AND CEO | 16,925 | $41.98 | $711K | $10.80M |
| 2026-02-23 | SELL | Brenner Robert | officer: Chief Medical Officer | 2,151 | $41.98 | $90K | $2.14M |
| 2025-12-15 | SELL | Turner William D. | officer: Chief Regulatory Officer | 10,000 | $50.08 | $501K | $1.13M |
| 2025-12-11 | BUY | ENRIGHT PATRICK G | director | 5,882 | $42.50 | $250K | $250K |
| 2025-12-08 | SELL | Turner William D. | officer: Chief Regulatory Officer | 10,000 | $45.31 | $453K | $1.02M |
| 2025-12-03 | SELL | Turner William D. | officer: Chief Regulatory Officer | 10,000 | $40.00 | $400K | $900K |
| 2025-11-21 | SELL | Carter Jason S | officer: Chief Legal Officer | 3,864 | $27.82 | $107K | $1.37M |
| 2025-11-11 | SELL | Young Joseph R | officer: SVP, FINANCE, CHIEF ACCT OFFCR | 15,000 | $29.06 | $436K | $1.39M |
| 2025-06-24 | BUY | ENRIGHT PATRICK G | director | 40,607 | $22.35 | $908K | $80.39M |
| 2025-06-23 | BUY | ENRIGHT PATRICK G | director | 209,393 | $20.87 | $4.37M | $74.49M |
Order Flow (FINRA, ~3w lag)
7.9%retail-1.3pp
38.2%dark+6.0pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Vera Therapeutics: The Billion-Dollar Burn Pit of Clinical Ambition
Overall Risk
7/10
Fraud
2/10
Dilution
8/10
Insolvency
5/10
Earnings Overstated
2/10
Hidden Liabilities
4/10
Legal
2/10
Audit Warnings
3/10
Hidden Upside
6/10
Contextually Acceptable
6/10