CAMBRIDGE, Mass.—Thomas Desrosiers, Chief Legal Officer and Executive Vice President of Ceres Therapeutics, Inc. (NASDAQ:), recently sold 4,259 shares of the company’s common stock. The shares were sold at an average price of $0.6901, for a total transaction of approximately $2,939. The transaction was executed on October 28, 2024 pursuant to a pre-arranged trading plan designed to cover the tax liability associated with the vesting of restricted stock units.
In a previous transaction on October 27, 2024, DesRosier acquired 13,500 shares of common stock through the vesting of restricted stock units. These units were part of an award awarded in 2023, subject to meeting specific performance criteria. Following these transactions, DesRosier now directly owns 133,414 shares.
In other recent news, Seres Therapeutics has been the subject of some significant developments. JPMorgan recently downgraded Ceres Therapeutics’ stock from “neutral” due to uncertainty about Ceres Therapeutics’ fundamental growth drivers despite Nestlé Health Sciences’ acquisition of Voust. Downgraded to “underweight.” However, the move relieves some of the immediate financial pressure and allows the company to cancel its debt facility with Oaktree.
Ceres Therapeutics shareholders have expressed concern about the company’s decision to reject a takeover offer from Nestlé SA and proceed with the sale of its VOWST business. The sale includes the first FDA-approved orally administered microbiome therapy and is expected to strengthen the company’s financial position despite a reported net loss of $32.9 million. It is expected.
TD Cowen maintained a buy rating on Seres Therapeutics’ stock following positive data from the Phase 1b clinical trial for SER-155. This therapy has shown potential to reduce bloodstream infections in patients undergoing allogeneic hematopoietic stem cell transplantation.
These recent developments confirm Ceres Therapeutics’ commitment to advance its pipeline of biotherapeutics for medically vulnerable populations despite financial challenges and mixed analyst outlook. is.
Investment Pro Insights
The recent insider trading in Ceres Therapeutics (NASDAQ:MCRB) comes against the backdrop of difficult financial metrics for the company. According to data from InvestingPro, Seres Therapeutics has a market capitalization of $131.51 million, reflecting its current position in the biotechnology space.
Two important tips from InvestingPro are particularly relevant to your company’s situation. First, Ceres is “rapidly burning through cash,” which is consistent with insider sales to cover tax obligations, suggesting potential financial pressure. Second, the stock has “taken a big hit in the last week,” with the stock’s total return for the week being -1.46% as of the latest data.
The company’s financial health appears to be precarious, with gross profit of $94.3 million over the past 12 months as of Q2 2024. This is further highlighted by the shockingly negative gross profit margin of -25,214.44%, indicating significant challenges in the company’s core business.
For investors looking for a more comprehensive analysis, InvestingPro offers 11 additional tips on Seres Therapeutics, providing deeper insight into the company’s financial health and market performance.
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