In a recent transaction, Chris Senanayake, a director at Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH), sold 1,626 shares of the company's common stock. The sale was executed at a price of $1.605 per share, totaling approximately $2,609. This transaction took place on December 29, 2022, as disclosed in the latest SEC filings.
The sale was associated with Senanayake's tax withholding obligations related to the vesting of restricted stock units (RSUs). According to the footnotes in the SEC filing, the shares were sold automatically to cover taxes owed upon the vesting of 4,417 RSUs under Shuttle Pharmaceuticals' equity incentive plan. Following the transaction, Senanayake remains the owner of 2,791 shares of Shuttle Pharmaceuticals common stock.
Investors often monitor insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is important to note that transactions like these are sometimes part of predetermined plans or are executed for personal financial management reasons unrelated to the executive's outlook on the company.
Shuttle Pharmaceuticals Holdings, Inc. operates within the pharmaceutical preparations industry and is incorporated in Delaware. The company's business address is in Gaithersburg, Maryland.
InvestingPro Insights
Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) recently witnessed insider trading activity, which can be a significant indicator of a company's health and future performance. To provide additional context, let's consider some key data and insights from InvestingPro.
As of the last twelve months ending Q4 2023, Shuttle Pharmaceuticals Holdings has a market capitalization of $190.63 million. The company's price-to-earnings (P/E) ratio stands at -3.91, reflecting the market's expectations of future earnings growth despite the company not being profitable during this period. With a price-to-book ratio of 3.88, investors are valuing the company above its net asset value, which could suggest expectations of future growth or a high value placed on its intangible assets or intellectual property.
The company's revenue for the same period was $13.59 million with a gross profit margin of a robust 71.96%, indicating a strong ability to retain earnings after the cost of goods sold. However, the operating income margin was -407.53%, suggesting significant operational costs relative to its revenue.
Turning to InvestingPro Tips, analysts are not expecting Shuttle Pharmaceuticals to be profitable this year, which aligns with the negative operating income. Moreover, the company is quickly burning through cash. This information is critical for investors looking at the company's financial sustainability and long-term growth potential. Additionally, it's noteworthy that Shuttle Pharmaceuticals does not pay a dividend, which might influence the investment strategy for income-focused investors.
For those seeking more comprehensive analysis, InvestingPro offers additional metrics and insights. There are currently 6 more InvestingPro Tips available for Shuttle Pharmaceuticals, which can be accessed by visiting the company's page on InvestingPro. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a deeper dive into the company's financials and potential investment opportunities.
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