Moderna executive sells over $8.7k in company stock

Moderna , Inc. (NASDAQ:MRNA) Chief Legal Officer Shannon Thyme has recently sold shares of the company's stock, according to the latest SEC filings. The transactions, which occurred on September 3, 2024, involved the sale of 114 shares at a price of $76.989 per share, totaling approximately $8,776.

The filings indicate that the sale was part of a tax withholding obligation related to the vesting of Restricted Stock Units (RSUs). This type of transaction is typically mandatory under the company's equity incentive plans, where a portion of the shares are sold to cover tax liabilities. This "sell to cover" transaction is not considered a discretionary trade by the reporting person.

In addition to the sale, the filings also show that on August 30, 2024, Thyme acquired 233 shares of Moderna's common stock. This acquisition is linked to the conversion of RSUs into common stock on a one-for-one basis. However, no monetary transaction took place during this conversion, as it was part of the vesting process of the RSUs. The vesting schedule for these units began on March 1, 2023, with 25% of the shares vesting immediately and the remainder vesting in equal quarterly installments.

Following the reported transactions, Thyme's direct ownership in Moderna stands at 17,566 shares of common stock. It is common for company executives to engage in transactions involving their equity compensation, and such activities are closely monitored by investors for insights into executive sentiment regarding their company's stock performance.

Moderna, headquartered in Cambridge, Massachusetts, is a biotechnology company known for its work in messenger RNA (mRNA) therapeutics and vaccines, including its COVID-19 vaccine. As with all public companies, Moderna's executive transactions are publicly disclosed to ensure transparency and to comply with SEC regulations.

In other recent news, Moderna's updated COVID-19 vaccine, Spikevax, targeting the JN.1 variant, has received authorization from the UK's Medicines and Healthcare products Regulatory Agency. The vaccine, designed to combat the currently dominant JN.1 group of subvariants, will be available for private purchase in the UK for the first time. In addition, Moderna's mRESVIA vaccine received FDA approval but may not perform as well compared to competing products, according to HSBC, which upgraded Moderna's stock from Reduce to Hold.

The company also reported promising Phase III data for its mRNA-1010 seasonal flu vaccine and mRNA-1283 next-generation COVID vaccine. Analysts from Brookline Capital Markets maintained a Buy rating on Moderna, projecting COVID-19 vaccines to generate $2.7 billion in sales for the company in 2024. However, the company revised its 2024 net product sales outlook to between $3.0 billion and $3.5 billion.

Piper Sandler also maintained an Overweight rating for Moderna, projecting sales for SpikeVax to reach $2.85 billion. These are the recent developments for Moderna, a key player in mRNA medicine and vaccine development.

InvestingPro Insights

As Moderna's executives navigate their stock transactions, investors are closely watching the company's financial health and market performance. According to InvestingPro data, Moderna currently holds a market capitalization of approximately $27.82 billion. Despite the challenges faced by the company, including a significant revenue decline of 52.6% over the last twelve months as of Q2 2024, Moderna's cash position remains strong, with more cash than debt on its balance sheet—an InvestingPro Tip that suggests financial resilience.

The company's stock has experienced considerable volatility, with a price drop of over 50% in the last three months leading up to September 2024. This volatility is reflected in the Relative Strength Index (RSI), which indicates that the stock is in oversold territory, another InvestingPro Tip that could interest contrarian investors or those looking for potential buying opportunities. For those considering Moderna's stock, the company's liquid assets also exceed short-term obligations, providing a cushion against immediate financial pressures.

For investors seeking a deeper dive into Moderna's performance and future prospects, there are additional InvestingPro Tips available on the platform. As of now, there are 14 more tips listed on InvestingPro, providing further insights into the company's valuation, profitability, and stock price trends.

It's worth noting that while Moderna has generated a high return over the last decade, analysts are cautious about the near future, anticipating a sales decline in the current year and not expecting the company to be profitable this year. These factors, combined with the recent share transactions by Moderna's Chief Legal Officer, may influence investor sentiment and decision-making.

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