In a recent transaction, Eric D. Shaff, the CEO and President of Seres Therapeutics, Inc. (NASDAQ:MCRB), sold a total of 2,435 shares of the company's common stock, accumulating a sum of $2,288. The sales were conducted at prices ranging from $0.94 to $0.950451 per share, according to a filing with the Securities and Exchange Commission.
The transaction was executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was adopted by Shaff on March 2, 2023. This type of plan allows company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on non-public material information. The purpose of this particular sale was to cover tax obligations related to the vesting of restricted stock units.
On the same day, Shaff also acquired 7,812 shares of common stock, which were obtained through the vesting of restricted stock units. Each unit represents a contingent right to receive one share of the company's common stock. These units vested and settled as to 25% on February 15, 2024, with the remainder set to vest in 12 equal quarterly installments thereafter.
After these transactions, Shaff's holdings in Seres Therapeutics stand at 140,698 shares of common stock directly owned. The company, based in Cambridge, Massachusetts, operates within the pharmaceutical preparations industry and continues to focus on developing life sciences solutions.
Investors and shareholders can request detailed information about the exact number of shares sold at each price point within the reported range by contacting the issuer or the Securities and Exchange Commission as per the reporting person's undertaking.
InvestingPro Insights
As investors analyze the recent insider transactions at Seres Therapeutics, Inc. (NASDAQ:MCRB), it's important to consider the company's financial health and market performance. According to InvestingPro data, Seres Therapeutics currently has a market capitalization of approximately $139.32 million. Despite a significant revenue growth of 2380.87% for the last twelve months as of Q1 2024, the company's gross profit margin remains low at 2.57%, reflecting some of the challenges it faces in achieving profitability.
Moreover, the company's stock price has experienced considerable volatility, with a notable decline of 80.91% over the last year, which aligns with one of the InvestingPro Tips indicating that the stock has taken a big hit. However, it's worth mentioning that there has been a strong return over the last month, with a 57.46% price total return, showcasing the stock's volatility. Another InvestingPro Tip suggests that analysts have revised their earnings downwards for the upcoming period, and they do not anticipate the company will be profitable this year.
For those looking to delve deeper into the financial metrics and expert analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/MCRB. These tips can provide further insights into the company's cash burn rate, gross profit margins, and stock price movements. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the wealth of information that can help inform your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.