Vera Therapeutics (VERA)
Sells TRUTAKNA and develops immune-mediated kidney disease treatments.
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Sells TRUTAKNA, a self-administered BAFF and APRIL inhibitor for adults with primary IgA nephropathy, while developing atacicept in additional autoimmune kidney diseases. Its U.S.-focused commercial model and continued approval depend on TRUTAKNA and confirmatory ORIGIN 3 data.
Commercializes TRUTAKNA (atacicept-vymj), a once-weekly, self-administered BAFF and APRIL inhibitor, in the United States for adults with primary IgA nephropathy at risk for disease progression. The treatment received accelerated approval to reduce proteinuria, while ORIGIN 3 is intended to verify longer-term clinical benefit and support full approval.
Extends atacicept into additional autoimmune kidney diseases through the PIONEER study and is developing the preclinical BAFF/APRIL program VT-109. MAU868, a monoclonal antibody for BK virus infection in transplant recipients, remains under evaluation for a next clinical study.
Runs a focused nephrology commercial operation in the United States, with potential partnerships for some markets abroad, and relies on contract manufacturers. Commercial prospects and continued approval are concentrated in TRUTAKNA, whose core rights are licensed from an affiliate of Merck KGaA.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 11, 2026 | Raymond James | Reiterate | Rating: —Target: $37 | Target: $84 |
| Jul 8, 2026 | Wedbush | Reiterate | Rating: —Target: $33 | Target: $43 |
| Jul 8, 2026 | Guggenheim | Reiterate | Rating: —Target: — | Target: $76 |
| Jul 8, 2026 | Needham | Target | Target: — | Target: $125 |
| Jul 8, 2026 | H.C. Wainwright | Reiterate | Rating: —Target: $90 | Target: $125 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $499.2M · Total debt $75.2M · Total assets $533.0M · Shareholders' equity $407.8M
- Revenue
- $0
- Operating income
- −$112.5M
- Net income
- −$109.5M
No dividends on record.
| Institutions | ≈ 108.36% | 78.09M shares | |
|---|---|---|---|
| 234 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 13.40% | 9.66M shares | |
| 13 holders · as of Sep 17, 2026 | |||
| Adds to | 121.76% | ||
72.06M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 121.76%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.98% | 5.75M | as of Jun 30, 2026 |
Avoro Capital Advisors LLCInstitution | 7.94% | 5.72M | as of Jun 30, 2026 |
Patrick G. EnrightInsiderdirector | 7.49% | 5.40M | filed Dec 15, 2025 |
State Street CorpInstitution | 5.76% | 4.15M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 5.57% | 4.01M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −18,500 | $37.00 |
| Sep 2, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −18,500 | $35.12 |
| May 12, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −18,500 | $36.74 |
| Jun 23, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −18,500 | $37.93 |
| Jul 7, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −46,250 | $42.30 |
- Novartis (ADR)
Approved IgAN drugs plus anti-APRIL pipeline pressure
- Vertex Pharmaceuticals
Direct dual BAFF/APRIL challenger in IgAN and pMN
- Travere Therapeutics
Approved FILSPARI franchise in IgAN and rare kidney disease
- AstraZeneca (ADR)
Adjacent IgAN pressure through terminal C5 complement inhibition
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vera Therapeutics | $36.26 | +0.11% | $2.46B | — | — | — | — |
| Novartis (ADR) | $141.28 | +0.01% | $267.96B | 21.3 | 15.0 | 4.8 | +0.9% |
| Vertex Pharmaceuticals | $524.88 | +1.89% | $129.62B | 29.7 | 26.8 | 10.3 | +12.5% |
| Travere Therapeutics | $60.28 | 0.00% | $5.85B | — | 30.4 | 9.9 | +48.2% |
| AstraZeneca (ADR) | $168.07 | −0.18% | $260.70B | 25.2 | 15.8 | 4.2 | +6.4% |
| Median | 25.2 | 21.3 | 7.4 | +9.4% |