In a recent move, an executive at Seres Therapeutics, Inc. (NASDAQ:MCRB) has sold a portion of their stock holdings in the company. Teresa L. Young, whose role is detailed in the filing as EVP, Chief Commercial & Strategy Officer, sold 728 shares of common stock at an average price of $0.84, totaling over $600 in value.
The transactions, which took place on August 16, 2024, were executed within a price range of $0.8414 to $0.8900 per share. This information comes from a footnote in the SEC filing, which also indicates that the sales were part of a pre-arranged trading plan under Rule 10b5-1, established for the purpose of covering taxes related to the vesting of restricted stock units.
On the previous day, August 15, Young acquired 2,656 shares of common stock at no cost, a transaction connected to the vesting of restricted stock units, as per the same SEC filing. These units represent a contingent right to receive shares of the issuer's common stock and have vested in part on February 15, 2024, with additional vesting scheduled in quarterly installments.
Following the sale, Young's ownership in Seres Therapeutics stands at 80,106 shares of common stock. The company, based in Cambridge, Massachusetts, operates within the pharmaceutical preparations industry and is incorporated in Delaware.
This latest filing provides investors with a glimpse into the trading activities of Seres Therapeutics' executives, offering insights into stock transactions that could be of interest to current and potential shareholders.
In other recent news, Seres Therapeutics has disclosed its financial statements for fiscal years 2023 and 2022, in line with a regulatory disclosure filed with the Securities and Exchange Commission. This comes amid the company's planned sale of assets related to its VOWST microbiome therapeutic business. The financial data is expected to provide shareholders and potential investors with transparency regarding the company's financial health and performance during these periods.
In a significant development, Seres Therapeutics has sold its VOWST assets to Nestle Health Science for a cash transaction of $155 million. This deal is expected to close within the next 90 days, bolstering the company's financial position. Proceeds from the sale will be utilized to retire existing debt and support the development of Seres' live biotherapeutic product pipeline.
The company is focusing on advancing SER-155, currently in a Phase Ib study, with key clinical data expected in the near future. Additionally, Seres is preparing SER-147 for IND readiness by the second half of 2025, targeting metabolic diseases. Despite reporting a net loss of $32.9 million, the sale of VOWST assets to Nestle is expected to extend the company's cash runway. These are the recent developments in Seres Therapeutics.
InvestingPro Insights
In light of the recent stock transactions by an executive at Seres Therapeutics, Inc. (NASDAQ:MCRB), understanding the company's financial health and market performance is crucial for investors. According to InvestingPro data, Seres Therapeutics currently has a market capitalization of $144.46 million. The company's stock price has experienced significant volatility, with a 1-month price total return of -22.55% and a staggering 1-year price total return of -73.27%. This volatility is reflected in the stock's current price, which is at only 25.85% of its 52-week high.
Two noteworthy InvestingPro Tips for Seres Therapeutics include the analysts' perspective and the company's profitability outlook. Firstly, 4 analysts have revised their earnings estimates upwards for the upcoming period, signaling potential optimism about the company's future performance. Secondly, despite this positive sentiment, analysts do not anticipate the company will be profitable this year, which is a critical factor for investors to consider.
For those interested in a deeper analysis, there are additional InvestingPro Tips available at Investing.com/pro/MCRB. These tips provide a comprehensive view of Seres Therapeutics' financial metrics and market position, helping investors make more informed decisions.
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