WATERTOWN, MA—Tara Lynn Kieffer, the Chief Product Strategy Officer at Enanta Pharmaceuticals Inc . (NASDAQ:ENTA), recently sold 2,283 shares of the company's common stock. The shares were sold at a weighted-average price of $8.06, resulting in a total transaction value of approximately $18,400. The transaction comes as the stock trades near $8.64, with InvestingPro analysis indicating the company is currently undervalued, despite facing significant cash burn challenges.
The sale, executed on December 6, was made to cover withholding taxes due from the settlement of a portion of a restricted stock unit award granted in November 2022. This transaction was not discretionary, as it was necessary to satisfy tax obligations through a "sell to cover" arrangement. The company maintains strong liquidity with a current ratio of 5.21, though InvestingPro data reveals several additional financial health indicators available to subscribers.
Following the transaction, Kieffer retains direct ownership of 29,305 shares of Enanta Pharmaceuticals, representing a stake in the company's $183.12 million market capitalization.
In other recent news, Enanta Pharmaceuticals saw adjustments in its price target from Leerink Partners and Baird, with Leerink raising it to $12 from $10 and Baird reducing it to $20 from $26. Both firms maintained their ratings on the stock. This follows Enanta's fiscal fourth-quarter financial report, which revealed lower-than-expected royalty revenues of approximately $14.6 million from Mavyret in the hepatitis C virus market. However, the firm anticipates investors will shift focus to upcoming events such as the release of Phase 2 RSVPEDs trial data for zelicapavir and the progress of Enanta's EDP-323 respiratory syncytial virus antiviral.
Additionally, Enanta nominated EPS-1421 as the development candidate for its KIT inhibitor program, targeting chronic spontaneous urticaria and other mast cell-driven diseases. The company also introduced a new STAT6 inhibitor discovery program aimed at type 2 immune diseases.
Enanta Pharmaceuticals also reported promising results from its Phase 2a study of EDP-323, a treatment candidate for RSV. The study demonstrated significant reductions in viral load and clinical symptoms, suggesting a favorable safety profile for the drug. These are the recent developments in Enanta Pharmaceuticals' ongoing efforts to address unmet medical needs in the treatment of respiratory infections.
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