BOSTON—Paula Ragan, President and CEO of X4 Pharmaceuticals, Inc. (NASDAQ:XFOR), has sold 31,897 shares of the company, according to a recent SEC filing. The shares were sold at a weighted average price of $0.562 per share, amounting to a total transaction value of $17,926. Following this sale, Ragan retains ownership of 1,025,816 shares in the company.
The transactions were conducted under a Rule 10b5-1 trading plan, which Ragan adopted on June 28, 2024. The shares were sold in multiple transactions, with prices ranging from $0.5424 to $0.5806.
InvestingPro Insights
The recent insider sale by X4 Pharmaceuticals' CEO Paula Ragan comes at a time when the company's stock has been under significant pressure. According to InvestingPro data, X4 Pharmaceuticals has seen a 57.82% decline in its stock price over the past six months, with a 15.95% drop in the last month alone. This downward trend aligns with an InvestingPro Tip indicating that the stock "has fared poorly over the last month."
Despite these challenges, X4 Pharmaceuticals maintains a strong liquidity position. An InvestingPro Tip highlights that the company "holds more cash than debt on its balance sheet," which could provide some financial flexibility in the near term. However, investors should note that the company is "quickly burning through cash," another crucial InvestingPro Tip that may explain the recent stock performance and insider selling activity.
The company's market capitalization stands at $92.17 million, reflecting its current valuation in the biotech sector. For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for X4 Pharmaceuticals, providing deeper insights into the company's financial health and market position.
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