WATERTOWN, MA—Or Yat Sun, Chief Scientific Officer at Enanta Pharmaceuticals Inc . (NASDAQ:ENTA), has sold 2,591 shares of the company's common stock, according to a recent SEC filing. The shares were sold on December 6 at a weighted-average price of $8.06 per share, totaling $20,883. The transaction comes as the company's stock has declined nearly 36% over the past six months, with InvestingPro analysis indicating the stock is currently trading below its Fair Value.
The shares were sold to cover withholding taxes due as a result of the settlement of a restricted stock unit award granted in November 2022. This transaction was conducted as a "sell to cover" to satisfy tax obligations and was not a discretionary transaction by the executive. Following this sale, Or Yat Sun retains direct ownership of 369,109 shares in the company. According to InvestingPro data, Enanta maintains strong liquidity with a current ratio of 5.21, though the company's overall financial health score is rated as WEAK. Get access to more detailed insights and 6 additional ProTips with an InvestingPro subscription.
The sale was executed in multiple transactions, with prices ranging from $7.87 to $8.22 per share. The executive has committed to providing full details of the transactions upon request to Enanta Pharmaceuticals, its security holders, or the SEC. The company, currently valued at $183 million by market capitalization, has seen its stock trade between $7.58 and $17.80 over the past 52 weeks.
In other recent news, Enanta Pharmaceuticals' fiscal fourth-quarter and full-year 2024 financial report disclosed royalty revenues of approximately $14.6 million from Mavyret in the hepatitis C virus (HCV) market. This figure was lower than Leerink's estimate of $19.4 million and the FactSet consensus of around $18 million. In response to these developments, Leerink Partners raised its price target for Enanta to $12.00 from $10.00 while maintaining a Market Perform rating.
On the other hand, Baird reduced its price target for Enanta to $20 from $26 while keeping an Outperform rating. This adjustment followed a recent earnings report and anticipation of upcoming clinical trial results. The focus is now on the RSVPEDs trial results due in December, which are expected to be a critical factor in determining the future potential of Enanta's respiratory syncytial virus (RSV) drug candidate, zelicapavir.
Additionally, Enanta 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. JMP Securities and Baird maintained their Outperform ratings for Enanta, following Pfizer (NYSE:PFE)'s decision to halt the development of its fusion inhibitor sisunatovir.
H.C. Wainwright reiterated its Buy rating on Enanta shares, emphasizing the company's proficiency in developing impactful antiviral therapies. The market is now looking forward to the results from the RSVPEDs study, which is testing zelicapavir in a pediatric patient population, expected in the fourth quarter of 2024. The study outcomes could be a pivotal milestone for Enanta, potentially advancing zelicapavir into a Phase 3 registration program.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.