Elisabet de los Pinos, President and CEO of Aura Biosciences Inc. (NASDAQ:AURA), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, de los Pinos sold 24,992 shares of common stock on October 18 at a weighted average price of $12.0374 per share, totaling approximately $300,838.
The transactions were carried out under a pre-established Rule 10b5-1 trading plan dated June 22, 2023. This sale follows the exercise of stock options to acquire the same amount of shares at $2.74 each, amounting to $68,478. Following these transactions, de los Pinos holds 329,847 shares directly and 131,412 shares indirectly through the Elisabet de los Pinos Revocable Trust.
In other recent news, Aura Biosciences has reported promising results from Phase 1 trials of its drug candidates, AU-011 and bel-sar, for non-muscle invasive bladder cancer (NMIBC). The results show significant potential, with a high percentage of patients achieving complete clinical responses. Investment firms, including TD Cowen, Scotiabank, H.C. Wainwright, and BTIG, have responded positively, maintaining Buy ratings and raising stock targets for Aura Biosciences. The company is preparing for Phase 2 trials to further evaluate these treatments and is in discussions with the FDA about Phase II trial designs. Aura Biosciences also reported a robust financial position, with a third-quarter cash estimate of $165 million, projected to sustain operations until the second half of 2026. There has also been a change in financial leadership, with the appointment of Amy Elazzouzi as interim CFO following the departure of Julie Feder. These are all recent developments in the ongoing efforts of Aura Biosciences to develop precision therapies for solid tumors.
InvestingPro Insights
The recent stock sale by Aura Biosciences' CEO comes at a time when the company's stock is showing strong momentum. According to InvestingPro data, Aura has seen impressive price returns across various timeframes, with a 29.3% increase in the past week and a 63.28% surge over the last six months. This performance has pushed the stock to trade near its 52-week high, with the current price at 94.83% of that peak.
Despite the positive stock performance, InvestingPro Tips highlight that Aura is not currently profitable, with a negative P/E ratio of -7.2 for the last twelve months as of Q2 2024. The company's operating income stands at -$90.35 million, indicating ongoing challenges in achieving profitability. However, it's worth noting that Aura holds more cash than debt on its balance sheet, which could provide financial flexibility as it continues to develop its pipeline.
For investors considering Aura Biosciences, it's important to note that the stock does not pay a dividend, which is common for biotech companies reinvesting in research and development. The company's market capitalization of $510.45 million suggests it's still in a growth phase, which aligns with its current financial profile.
InvestingPro offers 11 additional tips for Aura Biosciences, providing a more comprehensive analysis for those looking to delve deeper into the company's prospects and challenges.
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