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Vera Therapeutics

VERA on Nasdaq. Pharmaceutical preparations. Market value $2.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-16.0%low

For every $100 of what the whole company costs, it produced $-15.99 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-76.4%five-year median

Each dollar kept in the business earns -76 cents a year. Above 10 is good.

Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$29.42 a share, 28% above its 1-year low

Over the past year the price has ranged from $23.05 to $56.05.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.0
-0.1
-0.1
-0.1
-0.2
-0.3
2021202220232024202512 monthsto Jun '26
Revenue
n/an/an/an/an/a
Operating margin
n/an/an/an/an/a
Debt to equity
0.070.320.490.090.12
Shares outstanding
0.03bn0.04bn0.06bn0.06bn0.07bn

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Yes
  • Debt0.12× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 161% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • A loss of $109 million, compared with a loss of $77 million a year ago.
  • Over the past 12 months it spent $339 million more cash than it brought in, compared with $187 million a year earlier.
  • 13% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $26 million more than cash, up from $25 million a year ago.
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$47m
December 2024-$43m
March 2025-$52m
June 2025-$77m
September 2025-$80m
December 2025-$91m
March 2026-$121m
June 2026-$109m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
9 November 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 219 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

10 investors own more than 5%.

  • at least 8.9%
    (filed with 1 related holder)
    Since 31 December 2024
  • BlackRock, Inc.
    Passive investor
    7.4%
    Since 30 June 2026
  • 6.4%−1.3 pts
    Since 31 March 2026
  • STATE STREET CORPORATION
    Passive investor
    5.8%
    Since 30 June 2026
  • Deep Track Capital, LP
    Passive investor
    at least 5.5%
    (filed with 2 related holders)
    Since 4 March 2026
  • Deerfield Mgmt, L.P.
    Passive investor
    at least 5.3%
    (filed with 3 related holders)
    Since 6 June 2025
  • FMR LLC
    Passive investor
    at least 4.1%
    (filed with 1 related holder)
    Since 31 December 2025
  • at least 4.0%−1.4 pts
    (filed with 2 related holders)
    Since 30 June 2026
  • Dr. Maha Katabi ("Katabi")
    Passive investor
    at least 4.0%
    (filed with 4 related holders)
    Since 10 December 2025
    What they said

    The Reporting Persons hold their securities of the Issuer for investment purposes. Depending on the factors discussed herein, the Reporting Persons may, from time to time, acquire additional Common Stock and/or retain and/or sell all or a portion of the Common Stock held by the…

    Read the filing
  • at least 1.7%
    (filed with 2 related holders)
    Since 25 March 2026
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $249,985 of shares on the open market. 8 sold $9m, $7m of it under preset trading plans.

  • Fordyce Marshall
    PRESIDENT AND CEO, Director
    Sold
    under a preset trading plan
    Date
    15 September 2026
    Shares
    18,500
    Price
    $37.00
    Value
    $684,500
  • Fordyce Marshall
    PRESIDENT AND CEO, Director
    Sold
    under a preset trading plan
    Date
    2 September 2026
    Shares
    18,500
    Price
    $35.12
    Value
    $649,642
  • Fordyce Marshall
    PRESIDENT AND CEO, Director
    Sold
    under a preset trading plan
    Date
    7 July 2026
    Shares
    46,250
    Price
    $42.30
    Value
    $2m
  • Fordyce Marshall
    PRESIDENT AND CEO, Director
    Sold
    under a preset trading plan
    Date
    23 June 2026
    Shares
    18,500
    Price
    $37.93
    Value
    $701,769
  • Fordyce Marshall
    PRESIDENT AND CEO, Director
    Sold
    under a preset trading plan
    Date
    12 May 2026
    Shares
    18,500
    Price
    $36.74
    Value
    $679,747
  • Fordyce Marshall
    PRESIDENT AND CEO, Director
    Sold
    under a preset trading plan
    Date
    14 April 2026
    Shares
    22,951
    Price
    $44.05
    Value
    $1m
  • Skelton Laurence Matthew
    Chief Commercial Officer
    Sold
    Date
    23 February 2026
    Shares
    1,582
    Price
    $41.98
    Value
    $66,412
  • Brenner Robert
    Chief Medical Officer
    Sold
    Date
    23 February 2026
    Shares
    2,151
    Price
    $41.98
    Value
    $90,299
  • Grant Sean
    CHIEF FINANCIAL OFFICER
    Sold
    Date
    23 February 2026
    Shares
    4,949
    Price
    $41.98
    Value
    $207,759
  • Young Joseph R
    SVP, FINANCE, CHIEF ACCT OFFCR
    Sold
    Date
    23 February 2026
    Shares
    3,117
    Price
    $41.98
    Value
    $130,852

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.