AMSTERDAM—uniQure N.V. (NASDAQ:QURE), a biotechnology company with a market capitalization of $733.58 million, has seen its stock surge nearly 14% in the past week. CEO and Managing Director Matthew C. Kapusta recently reported a stock sale as part of a routine transaction. According to a recent SEC filing, Kapusta sold 3,418 ordinary shares on December 9, 2024, at a price of $7.63 per share, totaling $26,079. InvestingPro analysis indicates the stock is currently fairly valued based on its proprietary Fair Value model.
The sale was conducted to cover estimated withholding taxes following the vesting of performance-based restricted share units (PRSUs). This transaction was executed automatically under the terms of the relevant Performance Share Unit Agreement and was not a discretionary trade by Kapusta.
Prior to this, on December 8, 2024, Kapusta acquired 10,494 ordinary shares at no cost. These shares were awarded as PRSUs, granted under uniQure's 2014 Share Incentive Plan, which vested upon meeting specific performance criteria.
Following these transactions, Kapusta holds 597,915 ordinary shares in uniQure.
In other recent news, uniQure BV has made significant strides in the biotechnology sphere. The company has procured agreement from the U.S. Food and Drug Administration (FDA) for an accelerated approval submission of its gene therapy product, AMT-130, used to treat Huntington's Disease. Raymond (NS:RYMD) James, a financial services firm, has upgraded the company's stock from Outperform to Strong Buy and raised the price target to $52.00. This upgrade follows the company's announcement about AMT-130 and the FDA's confirmation that no further clinical studies will be required for the Biologics License Application (BLA) submission.
Moreover, uniQure is set to discuss additional specifics with the FDA, including technical manufacturing requirements, the statistical analysis plan, and the design for a confirmatory trial or post-marketing obligations, in the first half of 2025. This agreement has also been positively received by Stifel, another financial services company. In other developments, uniQure has initiated a Phase I/II clinical trial for its investigational treatment AMT-162, targeting ALS caused by SOD1 mutations.
Lastly, as part of a significant organizational restructuring, uniQure has reduced its workforce by 65% and sold its manufacturing facility in Lexington, Massachusetts, to Genezen. These recent developments underscore uniQure's progress in the development of gene therapies, with a focus on AMT-130 for Huntington's disease and AMT-162 for ALS.
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