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Eric D. Shaff, the CEO and President of Seres Therapeutics, Inc. (NASDAQ:MCRB), recently executed a stock sale as disclosed in a Form 4 filing with the Securities and Exchange Commission. On February 18, Shaff sold 12,726 shares of common stock at prices ranging from $0.81 to $0.8354, totaling $10,314. This transaction was part of a pre-established Rule 10b5-1 trading plan, primarily to cover tax obligations associated with the vesting of restricted stock units. The sale comes as the company, currently valued at $141 million, faces challenging market conditions with an EBITDA of -$36.4 million in the last twelve months. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates.
In addition to the sale, Shaff also acquired a total of 34,376 shares of common stock through the exercise of restricted stock units on February 15. These acquisitions were recorded at no cost, as each restricted stock unit represents a contingent right to receive one share of the company’s common stock. Following these transactions, Shaff holds a total of 192,039 shares directly. With analyst targets ranging from $1 to $10 and the next earnings report due on March 11, InvestingPro subscribers can access 8 additional key insights about MCRB’s financial health and market position through the comprehensive Pro Research Report.
In other recent news, Seres Therapeutics, Inc. has reported several significant developments. The company received a $50 million payment from Nestlé Health Science, part of the transition obligations following the sale of its VOWST business. An additional $25 million installment is expected in July 2025. In a notable regulatory advancement, the FDA granted Breakthrough Therapy designation to Seres’ investigational drug SER-155, aimed at reducing bloodstream infections in patients undergoing allogeneic hematopoietic stem cell transplants. This designation follows a Phase 1b study that showed a 77% reduction in bacterial bloodstream infections compared to a placebo.
The company is planning to meet with the FDA in early 2025 to discuss the next steps for SER-155, which has also received Fast Track designation. In corporate governance, Seres expanded its Board of Directors with the appointment of Dr. Hans-Juergen Woerle, following a rights agreement with Nestlé. Dr. Woerle brings substantial experience from his previous roles at Nestlé Health Science and other biotech companies. These recent developments highlight Seres Therapeutics’ strategic moves to enhance its financial position, regulatory progress, and leadership capabilities.
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