Adaptimmune Therapeutics CEO Adrian Rawcliffe sells $34,639 worth of shares Investing.com
Adrian Rawcliffe, Chief Executive Officer Adaptive immune therapeutics PLC (NASDAQ: ), recently reported a sale of the company’s stock, according to a filing with the Securities and Exchange Commission. The stock, currently trading at $0.61, has seen significant volatility, falling more than 52% in the past six months. According to InvestingPro analysis, the company appears to be undervalued relative to its fair value. The transactions occurred on January 13 and January 15, 2025, and involved a total of 59,569 American Depositary Shares (ADS) representing common stock.
Shares were sold at prices ranging from $0.5748 to $0.5879, for a total value of $34,639. These sales were part of a “Sell to Cover” exercise, where sufficient ADSs were sold to cover the withholding tax liability and associated selling costs. Following these transactions, Rawcliffe retains ownership of 41,582 ADSs, with additional vesting in RSU-style options and other options covering a significant number of the Company’s ordinary shares.
In other recent news, Adaptimmune Therapeutics received breakthrough therapy status from the FDA for its cancer treatment, lete-cel. This designation, for patients with inoperable or metastatic myxoid/round cell liposarcoma (MRCLS), is intended to accelerate drug development and review. The company also announced plans for a 2026 market launch.
Adaptimmune has undergone strategic shifts, including a 33% workforce reduction and a 25% reduction in operating expenses, with a goal of a break-even financial position by 2027. Mizuho (NYSE: ) maintained its Outperform rating for the company, but cut its price target by 50% due to these changes.
The company reported the successful launch of its engineered cell therapy, Tecelra, and plans to expand authorized treatment centers. Revenue from Tecelra is expected to begin in the fourth quarter of 2024, with significant growth expected in 2025. These recent developments have led to a cautiously optimistic outlook for Mizuho.
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