New York State Common Retirement Fund Cuts Position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA)

The New York State Common Retirement Fund (NYSCRF) has recently cut its position in Verrica Pharmaceuticals Inc. (NASDAQVRCA). This means that the fund has reduced the number of shares it holds in the company.

Verrica Pharmaceuticals is a biopharmaceutical company that specializes in developing and commercializing treatments for rare diseases. The company's flagship product, Valeo, is used to treat severe acne in patients who have not responded to other treatments.

The NYSCRF is one of the largest pension funds in the United States, with assets under management of over $200 billion. The fund invests in a diversified portfolio of stocks, bonds, and other securities on behalf of its beneficiaries, which include public employees and retirees in New York State.

It is not clear why the NYSCRF cut its position in Verrica Pharmaceuticals. However, it is possible that the fund may have sold its shares due to concerns about the company's financial performance or future prospects. Alternatively, the fund may have reduced its position as part of a broader diversification strategy.

It is worth noting that the NYSCRF has a long history of investing in biopharmaceutical companies, and its decision to cut its position in Verrica Pharmaceuticals does not necessarily reflect a negative view of the industry as a whole. However, it is always important for investors to carefully consider their investment decisions and to stay informed about the companies in which they hold positions.