Paula Ragan, the President and CEO of X4 Pharmaceuticals, Inc. (NASDAQ:XFOR), has recently engaged in transactions involving the company's stock, according to a new SEC filing. On October 7, 2024, Ragan sold 239,436 shares of X4 Pharmaceuticals at a weighted average price of $0.5493, totaling approximately $131,522.
The shares sold by Ragan were within a price range of $0.5142 to $0.6036. This range was part of a 10b5-1 trading plan, a rule which allows company insiders to set up a predetermined plan to sell company stocks, thereby avoiding accusations of insider trading. The plan was adopted on June 28, 2024.
In the same report, it was noted that Ragan acquired 532,081 shares as a result of the vesting of performance-based restricted stock units on October 4, 2024. The Compensation Committee of the Board of Directors certified the achievement of a performance condition, which led to the vesting of these shares. This transaction did not involve any monetary exchange, and therefore, the total value was $0.
Following these transactions, Ragan now owns a total of 1,057,713 shares in the company directly. X4 Pharmaceuticals, based in Boston, Massachusetts, operates in the biotechnology sector, focusing on the development of novel therapeutics for the treatment of rare diseases.
Investors and followers of X4 Pharmaceuticals may consider these transactions as part of their ongoing assessment of the company's stock performance and insider confidence. The details of these transactions, including the number of shares sold at each separate price within the specified range, can be provided upon request to the issuer, any security holder of the issuer, or the SEC staff.
InvestingPro Insights
Recent market data from InvestingPro sheds additional light on X4 Pharmaceuticals' current financial position and stock performance, providing context to the insider transactions reported.
As of the latest data, X4 Pharmaceuticals has a market capitalization of $90.99 million, reflecting its status as a small-cap biotech company. The stock's recent performance has been challenging, with InvestingPro data showing a significant 59.02% decline over the past six months. This downward trend aligns with the timing of Paula Ragan's stock sale, which occurred at prices between $0.5142 and $0.6036 per share.
InvestingPro Tips highlight that X4 Pharmaceuticals is "trading near its 52-week low" and that the "stock has taken a big hit over the last week," with a 16.77% decline in the past week alone. These indicators suggest that the company's shares have been under pressure, which may have influenced the timing of insider transactions.
Despite the recent stock performance, it's worth noting that X4 Pharmaceuticals "holds more cash than debt on its balance sheet," according to an InvestingPro Tip. This financial cushion could be crucial for a biotech company focused on developing novel therapeutics for rare diseases, as it provides resources for ongoing research and development efforts.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for X4 Pharmaceuticals, providing a deeper understanding of the company's financial health and market position.
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