RA Capital sold 630,374 shares (19.7% of holdings) for $10.2M at avg $16.14 vs. current $15.17; 5 consecutive VOR sales in 5 days while stock -71.6% from 52-week high.
RA Capital Management executed 2 separate sales totaling 630,374 shares for $10,174,787.59, reducing holdings from 3,197,619 shares to 2,567,245 shares—a reduction of 19.7% of pre-transaction holdings. The sales occurred at $16.28 and $15.77 on April 17 and April 20, blending to $16.14 per share, slightly above the current price of $15.17. Most significantly, this filing reflects the third and fourth transactions in a 5-day pattern: RA Capital sold on April 9, 10, 13, 14, and 15—before filing this Form 4 on April 17 for the April 17 and April 20 sales. This high-frequency exit pattern occurs while the stock trades 71.6% below its 52-week high of $53.40 and while the company reported a full fiscal year net loss of $812,684,000 against a market cap of $741,016,635.68. The concentration of sales within days of each other, without measurable outcomes yet from the prior 5 trades at this ticker, suggests sustained pressure to liquidate a significant director-level stake during a period of pronounced valuation compression.