In a recent transaction, John J. Boniface, the Chief Scientific Officer of Sera Prognostics, Inc. (NASDAQ:SERA), sold a total of 4,902 shares of the company's Class A Common Stock. The transaction, which occurred on May 8, 2024, resulted in a total sale value of over $47,000.
The shares were sold at a weighted average price of $9.59, within a range of $9.14 to $10.55 per share. This sale was part of a block trade that involved multiple transactions at different prices. According to a footnote in the filing, the sale was carried out to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The company mandated this "sell to cover" transaction, indicating that it was not a discretionary sale by Boniface.
Following the transaction, Boniface's remaining ownership in Sera Prognostics stands at 134,869 shares of Class A Common Stock. Investors and shareholders can request detailed information about the specific prices at which the block trade was executed, as per the filing.
Sera Prognostics, based in Salt Lake City, Utah, specializes in medical laboratory services and is known for its focus on women's reproductive health. The company's decision to satisfy tax withholding obligations through automatic sales is a common practice, intended to streamline the process for executives and align with internal policies.
InvestingPro Insights
Amidst the recent executive stock sale at Sera Prognostics, Inc. (NASDAQ:SERA), investors might be curious about the company's financial health and market performance. According to InvestingPro data, Sera Prognostics holds a market capitalization of $302.25 million, with a striking six-month price total return of 479.29%, reflecting a significant price uptick in recent months. Despite this, the company's revenue for the last twelve months as of Q1 2024 stands at a modest $0.21 million, with a decline of 37.58% in revenue growth compared to the previous period.
One InvestingPro Tip that stands out is the company's cash position, which reportedly holds more cash than debt on its balance sheet. This could be a reassuring sign for investors concerned about the company's financial stability. Additionally, Sera Prognostics does not pay a dividend, which may influence the investment decisions of those prioritizing income-generating stocks.
For investors considering a deeper dive into Sera Prognostics' financials and market prospects, InvestingPro offers additional insights. There are 7 more InvestingPro Tips available, which could provide a more nuanced understanding of the company's performance and potential. Interested readers can unlock these tips and benefit from an additional 10% off a yearly or biyearly Pro and Pro+ subscription by using the coupon code PRONEWS24.
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