Vor Biopharma (NYSE:VOR) Stock Price Down 8.6% After Insider Selling
Vor Biopharma's stock (NYSE:VOR) dropped 8.6% to $27.80 after insider selling by major shareholder Reprogrammed Interchange LLC, who sold 447,278 shares at $1.54 each. This follows previous sales of 400,000 shares at $1.64 and 300,000 shares at $1.75. The company has a market cap of $3.52 billion and an average price target of $6.07 from analysts. Hedge funds hold 97.29% of the stock, indicating strong institutional interest.
Vor Biopharma Inc. (NYSE:VOR - Get Free Report)'s stock price fell 8.6% on Friday following insider selling activity. The company traded as low as $27.73 and last traded at $27.80. 108,721 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 377,381 shares. The stock had previously closed at $30.40.
Specifically, major shareholder Reprogrammed Interchange Llc sold 447,278 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $1.54, for a total transaction of $688,808.12. Following the completion of the sale, the insider directly owned 32,781,209 shares in the company, valued at approximately $50,483,061.86. This trade represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Reprogrammed Interchange Llc sold 400,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $1.64, for a total value of $656,000.00. Following the sale, the insider owned 33,228,487 shares of the company's stock, valued at approximately $54,494,718.68. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, major shareholder Reprogrammed Interchange Llc sold 300,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $1.75, for a total value of $525,000.00. Following the completion of the sale, the insider directly owned 33,628,487 shares in the company, valued at $58,849,852.25. This trade represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
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Wall Street Analyst Weigh In
VOR has been the subject of several research reports. Wedbush restated an "outperform" rating on shares of Vor Biopharma in a research note on Thursday, June 26th. HC Wainwright reiterated a "buy" rating and set a $3.00 price target on shares of Vor Biopharma in a research note on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $6.07.
View Our Latest Research Report on Vor Biopharma
Vor Biopharma Trading Down 8.6%
The business's fifty day simple moving average is $2.04 and its 200-day simple moving average is $1.14. The firm has a market cap of $3.52 billion, a P/E ratio of -16.84 and a beta of 2.05.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Money Concepts Capital Corp grew its position in shares of Vor Biopharma by 106.1% during the 1st quarter. Money Concepts Capital Corp now owns 51,535 shares of the company's stock valued at $37,000 after purchasing an additional 26,535 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Vor Biopharma by 218.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 84,945 shares of the company's stock valued at $61,000 after purchasing an additional 58,247 shares in the last quarter. XTX Topco Ltd purchased a new position in Vor Biopharma in the second quarter worth $66,000. OMERS ADMINISTRATION Corp purchased a new position in Vor Biopharma in the first quarter worth $100,000. Finally, Jane Street Group LLC purchased a new position in Vor Biopharma in the first quarter worth $140,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.
Vor Biopharma Company Profile
(Get Free Report)Vor Biopharma Inc operates as a clinical-stage cell and genome engineering company. Its lead product is tremtelectogene empogeditemcel (trem-cel), an engineered hematopoietic stem cell (eHSC) product candidate that is in phase 1/2 trial to treat acute myeloid leukemia (AML) and other hematological malignancies.
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