Mahal Jeetinder Singh, the Chief Operating Officer of Jasper Therapeutics, Inc. (NASDAQ:JSPR), made significant stock transactions on December 12, according to a recent SEC filing. Singh sold 900 shares of Jasper Therapeutics' voting common stock at a price of $22.11 per share, totaling $19,899. The transaction comes as JSPR stock has shown remarkable performance, with a 383% gain over the past year and current trading at $20.47, near its Fair Value according to InvestingPro analysis.
In addition to the sale, Singh acquired 900 shares through the exercise of stock options at a price of $7.10 per share. These transactions were conducted under a Rule 10b5-1 trading plan, which Singh adopted on March 15, 2023. Following these transactions, Singh holds 25,009 shares of Jasper Therapeutics directly. For deeper insights into JSPR's financial health and future prospects, InvestingPro subscribers can access comprehensive analysis and 10 additional ProTips.
The transactions reflect Singh's ongoing involvement in the company's equity as part of his role as COO. Jasper Therapeutics, based in Redwood (NYSE:RWT) City, California, operates in the biological products industry. With a market capitalization of $304 million, the company maintains a strong liquidity position with its current ratio of 7.61x and minimal debt exposure.
In other recent news, Jasper Therapeutics has been the focus of several analyst firms following promising results from its SPOTLIGHT Phase 1b/2a study evaluating briquilimab for treating Chronic Inducible Urticaria (CIndU). BMO (TSX:BMO) Capital Markets initiated coverage with an Outperform rating and a $63 price target, while H.C. Wainwright reaffirmed its Buy rating and $65 price target. Oppenheimer maintained its Outperform rating with an $80 target, BTIG held its Buy rating with a $90 target, and TD (TSX:TD) Cowen reaffirmed its Buy rating.
Jasper Therapeutics' SPOTLIGHT study reported rapid responses within one week, with a 92% best response rate at the six-week mark, indicating significant potential for briquilimab. The company has also received clearance from Health Canada to commence a Phase 1b/2a clinical trial for briquilimab as a potential treatment for asthma.
The U.S. Patent and Trademark Office registered a trademark for Jasper's proprietary Jasper c-Kit Mouse™ model, which has been instrumental in the clinical development of briquilimab. Furthermore, the company plans to present initial Chronic Spontaneous Urticaria (CSU) data from the BEACON study and full SPOTLIGHT study results in the first half of 2025, marking key milestones in Jasper Therapeutics' ongoing efforts to advance treatments for chronic diseases.
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