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Aurinia Pharmaceuticals director sells shares worth $2,984

Published 05/22/2024, 04:20 PM

In a recent transaction, Brinda Balakrishnan, a director at Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH), sold shares of the company's stock. On May 21, Balakrishnan parted with 520 shares at a price of $5.74 each, totaling $2,984. The sale was executed to cover tax withholding obligations related to the vesting of Restricted Stock Units granted the previous year.

After the transaction, Balakrishnan's remaining stake in the company stands at 17,523 shares of common stock. The sale represents a routine financial move often seen with vested equity awards, where a portion of the stock is sold to satisfy tax requirements.

Aurinia Pharmaceuticals, headquartered in Edmonton, Canada, specializes in the development of therapies for the treatment of various diseases, with a focus on pharmaceutical preparations. The sale by Balakrishnan provides investors with insight into the financial moves of the company's insiders, which can be a valuable piece of information for those tracking Aurinia's stock performance and management actions.

InvestingPro Insights

Following the recent insider transaction at Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH), investors may find additional context through key metrics and tips sourced from InvestingPro. The company, with a market capitalization of approximately $788.93 million, shows a commitment to shareholder value with management's aggressive share buyback strategy, as highlighted in one of the InvestingPro Tips. This could be a signal of confidence in the company's future prospects from its leadership.

Another InvestingPro Tip that stands out is the company's financial health, where Aurinia holds more cash than debt on its balance sheet. This is a reassuring sign for investors, indicating a stable financial position that could support ongoing operations and investment in growth. Moreover, analysts predict that Aurinia will turn profitable this year, which aligns with the company's expected net income growth.

From a valuation standpoint, the P/E ratio stands at -12.84, reflecting the market's sentiment towards its earnings potential. The impressive gross profit margins, which InvestingPro Data notes at 88.82% for the last twelve months as of Q1 2024, suggest that Aurinia has a strong control over its cost of goods sold, which is crucial for long-term profitability.

Investors interested in a deeper dive can explore additional InvestingPro Tips, with a total of 8 tips available, providing a comprehensive analysis of Aurinia's financial and operational performance. To gain access to these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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