While Moderna Insiders Sell, Just 1 has Bought
Coupled with the rise this year has been heavy selling by certain insiders (over $12M in sales in July alone), which has also caught the eye of financial media.
While much of the trading is tied to pre-determined 10b5-1 trading plans, it's still understandable that the sales are being questioned. The optics are just pretty poor - selling at highs during a pandemic, as hype around your company's COVID-19 vaccine prospects rise.
To boot, according to our data, just 1 insider has actually bought any shares in the last 180 days: Director Paul Sagan bought ~$1mm in February. Those shares were purchased $19, and has been a pretty good trade for Paul (MRNA closed at $80.22 on 7/15).
A director since June 2018, this is the first time Paul has purchased MRNA stock. In fact, it's his first insider stock purchase since 2010 for the current General Catalyst Partner and former CEO of Akamai Technologies (AKAM) -Get Report.
At least one person on the inside is betting on Moderna.
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