Entero Therapeutics, Inc. (NASDAQ:ENTO) CEO James Sapirstein has completed a sale of company stock, according to a recent SEC filing. The transaction, which took place on July 2nd, involved the sale of 1,289 shares of Entero Therapeutics' common stock for a total value of $1,379.
The shares were sold at a weighted average price of $1.07, with individual transactions ranging from $1.05 to $1.16 per share. This sale was not a discretionary transaction by Sapirstein. Instead, it was executed to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs), as mandated by the company's "sell to cover" policy.
Following the sale, Sapirstein's ownership in the company includes 35,816 shares, which accounts for both vested and unvested RSUs. The CEO's remaining stake in Entero Therapeutics reflects his continued investment in the company's future.
Entero Therapeutics, based in Boca Raton, Florida, operates in the pharmaceutical preparations industry and has undergone several name changes in its history, with previous names including First Wave BioPharma, Inc., AzurRx BioPharma (NASDAQ:ENTO), Inc., and BioPharma d'Azur, Inc.
Investors and shareholders of Entero Therapeutics can request detailed information about the exact number of shares sold at each price point within the reported range by contacting the company or the SEC.
In other recent news, Entero Therapeutics, previously known as First Wave BioPharma, has seen significant developments. The company appointed Dr. Jack Syage as its new Chief Scientific Officer, a move signaling a strategic shift in corporate focus towards scientific innovation. This transition does not impact Dr. Syage's compensation and he continues to report directly to CEO James Sapirstein.
In another development, Entero Therapeutics secured approximately $1.1 million through a registered direct offering and concurrent private placement, managed by Roth Capital Partners. This transaction involved the sale of 366,000 shares of common stock or equivalents and warrants for up to 732,000 additional shares. The company intends to use the proceeds for working capital and general corporate purposes.
Moreover, analyst firm H.C. Wainwright reinstated coverage on the company, upgrading their rating from Under Review to Neutral. This followed the company's acquisition of ImmunogenX, which expanded its focus on advancing gastrointestinal treatments. These are among the recent developments shaping the trajectory of Entero Therapeutics.
InvestingPro Insights
Amidst the recent stock activity by Entero Therapeutics, Inc. (NASDAQ:ENTO) CEO James Sapirstein, current metrics and trends from InvestingPro offer a deeper look into the company's market standing. Entero Therapeutics is currently grappling with a market capitalization of just $2.43 million USD, reflecting its relatively small scale within the pharmaceutical preparations industry. The company's performance has been notably struggling, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -0.38, indicating that investors are wary about the company's earnings prospects.
InvestingPro Tips suggest that the stock is in oversold territory, which could imply that the shares might be undervalued given the recent selling pressure. Additionally, the stock has taken a significant hit over the last week, with a 1-week price total return showing a sharp decline of 43.02%. This recent performance aligns with the broader trend of the stock's poor showing over the last month, quarter, and year, with price total returns of -64.74%, -75.37%, and -96.78% respectively. It's also noteworthy that the stock is trading near its 52-week low, at only 3.23% of the high, which could attract investors looking for potential bargains in the market.
These metrics, alongside the fact that analysts do not anticipate the company to be profitable this year, could be crucial for investors considering the company's long-term viability and the CEO's recent stock sale. For those interested in a more comprehensive analysis, there are additional InvestingPro Tips available, which could provide further insight into Entero Therapeutics' financial health and market position. To access these tips and make more informed investment decisions, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
For further details and expert advice, investors are encouraged to visit https://www.investing.com/pro/ENTO, where they can find a total of 14 InvestingPro Tips that delve into various aspects of Entero Therapeutics' market performance and financial stability.
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