Moderna CEO has Sold $70 Million in Stock this Year
Moderna’s CEO has continued to sell his shares at a furious pace.
Although Moderna announced positive preliminary results from its Covid vaccine candidate today, the company’s CEO has already profited massively from the stock price rising on hopes of an effective vaccine candidate.
CEO Stéphane Bancel has sold over 1.25 million shares this year, netting $70,881,804. His stock sales have been consistent throughout the year, as he has sold in blocks of about 9,000 shares every few days.
Bancel has not purchased a single share of Moderna stock in 2020.
Overall, the executive team has sold 5,934,000 shares and only purchased 52,631 shares. In other words, only 0.8% of insider transactions for Moderna in 2020 have been share purchases.
Currently, 10.08% of shares are held by insiders.
The scale of the insider selling begs the question: which is more profitable, profiting off vaccine hopes or selling a working vaccine?
Some have speculated that a vaccine won’t be as insanely profitable as many are assuming. Governments could set strict limits on the price at which companies sell the vaccine at, especially if there are multiple working vaccines.