In a recent transaction, Noubar Afeyan, a board member of Moderna , Inc. (NASDAQ:MRNA), sold shares of the company's stock, resulting in a significant transaction amounting to over $1.6 million. The series of sales occurred on March 27, 2024, with the price per share ranging from $105.73 to $110.75.
The transactions were carried out under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was adopted on February 27, 2023, and later amended on November 7, 2023. Such plans allow company insiders to sell shares at predetermined times to avoid accusations of trading on non-public information.
According to the filing, Afeyan sold a total of 12,000 shares in multiple transactions. The sales were executed at weighted average prices, with individual transactions occurring within specified price ranges. For instance, a portion of the shares was sold at prices ranging from $105.19 to $106.18, while another set was sold at prices between $106.20 to $107.13. Subsequent sales saw shares going for prices in the ranges of $107.39 to $108.37, $108.54 to $109.51, $109.59 to $110.58, and finally, $110.59 to $110.97.
Following these transactions, Afeyan still holds a substantial number of shares in Moderna. Directly after the sales, his ownership stood at 2,101,931 shares. Additionally, through indirect ownership via Flagship Ventures Fund IV, L.P. and Flagship Ventures Fund IV-Rx, L.P., Afeyan is associated with over 9.6 million shares, while Flagship Pioneering, Inc., where he is the CEO and sole stockholder, holds 3,924 shares. Afeyan has disclaimed beneficial ownership of these indirectly held shares, except to the extent of his pecuniary interest.
These disclosures provide transparency into the trading activities of Moderna's insiders, offering investors a glimpse into the actions taken by company executives and directors regarding their stock holdings.
InvestingPro Insights
As Moderna's board member Noubar Afeyan adjusts his stake in the company, investors are closely monitoring the financial health and market performance of Moderna, Inc. (NASDAQ:MRNA). The recent insider transactions coincide with notable data points that can help shareholders understand the broader context of the company's status.
Firstly, an InvestingPro Tip highlights that management at Moderna has been actively buying back shares. This could be a sign of confidence from management in the company's value, which might reassure investors despite the insider sales. Additionally, Moderna holds more cash than debt on its balance sheet, suggesting a strong financial position that could support future growth or weather economic downturns.
On the data front, Moderna's Market Cap stands at an adjusted $40.8 billion USD, reflecting the company's size and market value. However, the company's P/E Ratio is currently negative at -8.64, indicating that it is not generating profits relative to its share price. This aligns with the InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year. Moreover, Moderna's Revenue for the last twelve months as of Q4 2023 was reported at $6.848 billion USD, with a significant revenue decline of -64.45%.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available on the platform. For example, investors can explore tips related to the company's gross profit margins, stock price volatility, and sales projections. In total, there are 12 InvestingPro Tips listed for Moderna, which can be accessed for deeper insights into the company's performance and prospects.
Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where they can access these valuable tips and more.
With the next earnings date approaching on May 2, 2024, investors will be keen to see how the company's financials have evolved and what the future may hold for Moderna's stock value.
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