Vault-13

VERRICA PHARMACEUTICALS INC VRCA

COM SHS · Common Stock · CUSIP 92511W207

39 institutional holders -11 vs Q4 2025
4,777,8804.8m shares reported held*
27.8% of all shares outstanding*
$25.3mreported value*
3 new 10 added 7 reduced 16 sold out net sold ≈ $2.8m (-534.8k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 17.2m as of 2026-03-02, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $5.29.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 25: 5Q3 25: 33Q4 25: 50Q1 26: 3939Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q2 20255
Q3 202533
Q4 202550
Q1 202639

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q3 25: 33 bought or addedQ3 25: 5 cut or sold outQ3 25Q4 25: 26 bought or addedQ4 25: 15 cut or sold outQ4 25Q1 26: 13 bought or addedQ1 26: 23 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q3 2025335
Q4 20252615
Q1 20261323

Biggest buyers

CANNELL CAPITAL LLC New +685,123+685.1k
GEODE CAPITAL MANAGEMENT, LLC Added +71,258+71.3k
MARSHALL WACE, LLP Added +55,324+55.3k
Squarepoint Ops LLC Added +41,938+41.9k
BlackRock, Inc. Added +32,868+32.9k
Verdad Advisers, LP New +12,098+12.1k
NORTHERN TRUST CORP Added +11,556+11.6k
RENAISSANCE TECHNOLOGIES LLC Added +5,960+6.0k
STATE STREET CORP Added +5,435+5.4k
UBS Group AG Added +4,246+4.2k

Biggest sellers

ARMISTICE CAPITAL, LLC Reduced -600,744-600.7k
Stonepine Capital Management, LLC Reduced -253,934-253.9k
Kalehua Capital Management LLC Sold out -235,779-235.8k
TWO SIGMA INVESTMENTS, LP Reduced -67,556-67.6k
JANE STREET GROUP, LLC Reduced -52,511-52.5k
TWO SIGMA ADVISERS, LP Sold out -44,430-44.4k
Sovran Advisors, LLC Sold out -32,658-32.7k
MILLENNIUM MANAGEMENT LLC Sold out -23,123-23.1k
OMERS ADMINISTRATION Corp Sold out -22,600-22.6k
DAFNA Capital Management LLC Reduced -19,739-19.7k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Manning Paul B 13D · may seek influence filed 2025-11-28 49.9% 8.1m≈ $49.3m 2025-11-28
Caligan Partners LP 13D · may seek influence no change · filed 2025-12-30
Stated purposeOn December 26, 2025, pursuant to the Purchase Agreement, the Issuer appointed Dr. Charles Frantzreb, a designee selected by Caligan, as a Class I member of the Board, effective immediately. Full filing
10.0% no change 6.5m≈ $11.6m 2025-12-30
Affinity Asset Advisors, LLC 13G · institution no change · filed 2026-01-29 5.5% no change 884.2k≈ $5.4m 2026-01-29

Fell to 5% or below in the last year: ARMISTICE CAPITAL, LLC (5.0%, 2026-02-17)

Insider purchases and sales in Q1 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
505Q2 24: 0 buyingQ2 24: 0 sellingQ3 24: 0 buyingQ3 24: 5 sellingQ3 24Q4 24: 3 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 1 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25Q4 25: 5 buyingQ4 25: 0 sellingQ1 26: 0 buyingQ1 26: 0 sellingQ1 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q2 20240—0——
Q3 20240—5$1.1m—
Q4 20243—0——
Q1 20250—1$2.8k—
Q2 20250—0——
Q3 20250—0——
Q4 20255$18.0m0——
Q1 20260—0——

None reported in Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Caligan Partners LP 0.35% of their portfolio NEW YORK, NY 923,910923.9k $4.9m $4.9m 0.35% Unchanged
2 Affinity Asset Advisors, LLC 0.22% of their portfolio NEW YORK, NY 707,338707.3k $3.7m $3.7m 0.22% Unchanged
3 CANNELL CAPITAL LLC 2.35% of their portfolio ALTA, WY 685,123685.1k $3.6m $3.6m 2.35% New
4 ARMISTICE CAPITAL, LLC 0.09% of their portfolio NEW YORK, NY 518,181518.2k $2.7m $2.7m 0.09% Reduced -600.7k -600,744
5 Velan Capital Investment Management LP 1.56% of their portfolio ALPHARETTA, GA 471,559471.6k $2.5m $2.5m 1.56% Unchanged
6 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 280,734280.7k $1.5m $1.5m 0.03% Unchanged
7 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 188,758188.8k $998.5k $998.5k 0.00% First filing
8 DAFNA Capital Management LLC 0.18% of their portfolio LOS ANGELES, CA 153,712153.7k $813.1k $813.1k 0.18% Reduced -19.7k -19,739
9 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 140,497140.5k $743.2k $743.2k 0.00% Added +55.3k +55,324
10 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 138,917138.9k $735.0k $735.0k 0.00% Added +71.3k +71,258
11 Stonepine Capital Management, LLC 0.46% of their portfolio Bend, OR 99,73599.7k $527.6k $527.6k 0.46% Reduced -253.9k -253,934
12 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 75,20875.2k $397.9k $397.9k 0.00% Added +41.9k +41,938
13 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 65,10165.1k $344.4k $344.4k 0.00% First filing
14 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 50,66250.7k $268.0k $268.0k 0.00% Reduced -67.6k -67,556
15 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 49,21149.2k $260.3k $260.3k 0.00% Reduced -52.5k -52,511
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 38,55338.6k $203.9k $203.9k 0.00% Added +32.9k +32,868
17 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 32,36032.4k $171.2k $171.2k 0.00% Added +6.0k +5,960
18 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 31,58031.6k $167.1k $167.1k 0.00% Added +11.6k +11,556
19 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 28,91628.9k $153.0k $153.0k 0.00% Added +5.4k +5,435
20 Mariner, LLC 0.00% of their portfolio Overland Park, KS 24,54424.5k $129.8k $129.8k 0.00% Unchanged
21 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 22,38622.4k $118.4k $118.4k 0.00% Added +377 +377
22 Legacy Trust 0.02% of their portfolio GRAND RAPIDS, MI 17,23417.2k $91.2k $91.2k 0.02% Unchanged
23 Verdad Advisers, LP 0.07% of their portfolio BOSTON, MA 12,09812.1k $64.0k $64.0k 0.07% New
24 BECK MACK & OLIVER LLC 0.00% of their portfolio NEW YORK, NY 12,00012.0k $63.5k $63.5k 0.00% Unchanged
25 UBS Group AG 0.00% of their portfolio ZURICH, V8 4,2704.3k $22.6k $22.6k 0.00% Added +4.2k +4,246
26 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 1,5001.5k $8.0k $8.0k 0.00% Unchanged
27 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 965965 $5.0k $5.0k 0.00% Added +549 +549
28 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 862862 $4.6k $4.6k 0.00% First filing
29 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 856856 $4.5k $4.5k 0.00% Reduced -2.5k -2,486
30 Salomon & Ludwin, LLC 0.00% of their portfolio RICHMOND, VA 290290 $1.6k $1.6k 0.00% Unchanged
31 New England Capital Financial Advisors LLC 0.00% of their portfolio MERIDEN, CT 200200 $1.1k $1.1k 0.00% Unchanged
32 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio ORLANDO, FL 175175 $961 $961 0.00% Unchanged
33 Fortitude Family Office, LLC 0.00% of their portfolio SCOTTSDALE, AZ 127127 $672 $672 0.00% Reduced -481 -481
34 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 110110 $582 $582 0.00% Unchanged
35 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 102102 $540 $540 0.00% Unchanged
36 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4747 $224 $224 0.00% Unchanged
37 Optiver Holding B.V. 0.00% of their portfolio AMSTERDAM, P7 3131 $164 $164 0.00% Unchanged
38 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 2626 $114 $114 0.00% New
39 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 22 $11 $11 0.00% Unchanged