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Nicolas Jammet, Chief Concept Officer at Sweetgreen , Inc. (NYSE:SG), recently executed a significant stock transaction, according to a filing with the Securities and Exchange Commission. On March 10, Jammet sold 7,400 shares of Sweetgreen’s Class A Common Stock, generating a total of $185,370. The shares were sold at a weighted average price of $25.05, with individual transaction prices ranging from $25.00 to $25.175. According to InvestingPro data, the stock is currently trading above its Fair Value, following a notable 8% gain over the past week despite a challenging -27% return over the last six months.
The sale was conducted under a pre-arranged 10b5-1 trading plan, which was established on June 10, 2024. Following this transaction, Jammet’s direct holdings in Sweetgreen’s Class A Common Stock are listed at 1,760,034 shares, which include shares subject to restricted stock units. InvestingPro analysis reveals that while the company maintains strong liquidity with a current ratio of 2.02, it faces profitability challenges, with analysts not expecting positive earnings this year. Get access to 10+ additional exclusive ProTips and comprehensive analysis through the Pro Research Report.
In addition to his direct holdings, Jammet maintains indirect ownership of both Class A and Class B Common Stock through various trusts, as detailed in the filing. These trusts include the Nicolas Jammet Revocable Trust, the Nicolas H. Jammet 2014 GRAT, and the Jammet Descendants Trust. The company, currently valued at $2.9 billion in market capitalization, operates with a moderate debt level and has demonstrated solid revenue growth of 16% over the last twelve months.
In other recent news, Sweetgreen Inc. reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted an earnings per share of -$0.25, missing the forecasted -$0.20, and generated revenue of $160.9 million, slightly below the expected $163.4 million. This performance led to a significant drop in Sweetgreen’s stock in aftermarket trading. Despite these challenges, Sweetgreen achieved its first full year of positive adjusted EBITDA at $18.7 million, with full-year sales growing by 15% to $676.8 million. Analysts from UBS, TD Cowen, and RBC Capital Markets have all adjusted their price targets for Sweetgreen, citing various factors such as weather conditions and the company’s updated guidance. UBS lowered its target to $35 while maintaining a Buy rating, TD Cowen reduced it to $33, and RBC Capital Markets adjusted it to $30, all from a previous target of $45. These firms note that Sweetgreen’s long-term growth potential remains intact, supported by strategic initiatives like menu innovation and loyalty programs. Sweetgreen plans to open at least 40 new locations in 2025, with a focus on expanding its Infinite Kitchen concept, which has shown promising results in terms of operational efficiency.
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