Elisabet de los Pinos, CEO of Aura Biosciences Inc. (NASDAQ:AURA), recently sold 24,992 shares at about $12.04 each, totaling around $300,838. This sale, made on October 18, was part of a pre-arranged trading plan initiated on June 22, 2023. After exercising options for the shares at $2.74 each, de los Pinos now owns 329,847 shares directly and 131,412 shares through a trust.
Aura Biosciences also reported positive results from Phase 1 trials for its bladder cancer treatments, AU-011 and bel-sar, showing many patients responded well. Investment firms have reacted positively, maintaining buy ratings and raising target prices. The company is preparing for Phase 2 trials and has an estimated $165 million in cash, enough to fund operations through 2026. Additionally, Amy Elazzouzi has been appointed as interim CFO following Julie Feder’s departure.
InvestingPro Insights
Despite the CEO’s stock sale, Aura’s shares have gained 29.3% this past week and 63.28% in the last six months, nearing a 52-week high. However, the company is not currently profitable, with a negative P/E ratio of -7.2 and an operating loss of $90.35 million. Aura has more cash than debt, providing some financial flexibility.
Investors should note that Aura does not pay a dividend and has a market cap of $510.45 million, indicating it’s still in a growth phase. InvestingPro provides additional insights for those interested in the company’s future prospects and challenges.
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