Brendan Luu, an insider at Enanta Pharmaceuticals, Inc. (NASDAQ: ENTA), sold 1,394 shares of the company’s stock on December 5, 2023. The shares were sold at an average price of $14.23, amounting to a total transaction value of $19,836.62. Following this transaction, Luu now holds 38,329 shares of Enanta, which are valued at approximately $545,421.67. This sale reflects a 3.51% decrease in Luu’s position within the company.
The transaction was officially disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). Enanta Pharmaceuticals’ stock opened at $14.60 on the same day, showing a recent increase of 3.6%. The company currently has a market capitalization of $421.36 million, with a price-to-earnings (PE) ratio of -3.81 and a beta of 0.96. Its fifty-day moving average stands at $11.89, while the 200-day moving average is $9.04. Over the past year, the stock has fluctuated significantly, with a low of $4.09 and a high of $15.34.
Recent Earnings Report Highlights
Enanta Pharmaceuticals reported its quarterly earnings on November 17, 2023. The biotechnology firm announced earnings of ($0.87) per share (EPS), surpassing analysts’ expectations of ($1.13) by $0.26. The company experienced a negative net margin of 125.36% and a return on equity of -93.76%. Enanta’s revenue for the quarter was $15.13 million, slightly below the analyst estimate of $15.60 million. Looking ahead, analysts project that Enanta will post an EPS of -$4.65 for the current year.
Institutional Investments and Market Activity
Several institutional investors have recently made adjustments to their holdings in Enanta Pharmaceuticals. For instance, Farther Finance Advisors LLC significantly increased its position by 11,558.0% in the second quarter, acquiring an additional 5,779 shares for a total of 5,829 shares, valued at approximately $44,000. Other notable transactions include US Bancorp DE, which purchased a new position valued at around $36,000, and Quarry LP, which also bought into the company with a new stake of approximately $81,000 in the third quarter.
Additionally, China Universal Asset Management Co. Ltd. increased its holdings by 103.8%, now owning 8,747 shares worth approximately $105,000. Meanwhile, AlphaQuest LLC boosted its stake by 18.1%, bringing its total to 10,198 shares valued at $122,000. Notably, institutional investors now hold 94.99% of Enanta Pharmaceuticals’ stock.
Enanta Pharmaceuticals focuses on the discovery and development of small molecule drugs aimed at treating viral infections and liver diseases. Its product pipeline includes EDP-514, currently in phase 1b clinical development for chronic hepatitis B virus infection, and EDP-938 and EDP-323, both in phase II for respiratory syncytial virus treatment. The firm also markets Glecaprevir, a treatment for chronic hepatitis C virus infection.
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