Moderna's chief legal officer sells shares worth over $12k

Moderna , Inc. (NASDAQ:MRNA) has reported a recent transaction involving its Chief Legal Officer, Shannon Thyme Klinger. According to the latest filing, Klinger sold shares of the company's common stock, resulting in a transaction valued at over $12,000.

The sale took place on August 29, 2024, when Klinger disposed of 162 shares at an average price of $78.026 per share, totaling approximately $12,640. This transaction followed an acquisition of shares by Klinger on August 28, where 329 shares were converted from restricted stock units (RSUs) at no cost, as part of the company's equity incentive plan.

It's important to note that the sale of shares by Klinger was part of a "sell to cover" transaction, which is a mandated sale to satisfy tax withholding obligations upon the vesting of RSUs. This type of sale is required by Moderna's equity incentive plans and is not considered a discretionary trade by the reporting person.

The vesting of the RSUs in question was part of an award where 25% vested earlier in the year on February 28, with the remainder scheduled to vest in twelve equal quarterly installments thereafter.

Following these transactions, Klinger's ownership in Moderna's common stock stands at 17,447 shares. The transactions indicate routine financial management related to equity compensation and are not necessarily indicative of the executive's view on the company's future performance.

Investors and followers of Moderna, Inc. can stay informed of further insider transactions by monitoring the company's filings and disclosures.

In other recent news, Moderna Inc. has seen several significant developments. Recently, the company received FDA approval for its updated SpikeVax vaccine targeting the KP.2 variant of COVID-19. This approval follows the European Commission's authorization of Moderna's mRNA-based respiratory syncytial virus (RSV) vaccine, mRESVIA®, for adults aged 60 and above.

Moderna also reported encouraging Phase III data for its mRNA-1010 seasonal flu vaccine and mRNA-1283 next-generation COVID vaccine, with plans to seek licensure for these. However, the company experienced a net loss and revised its 2024 net product sales outlook to between $3.0 billion and $3.5 billion.

Analysts have provided mixed reviews on Moderna. HSBC upgraded the company's stock from Reduce to Hold, while Deutsche Bank upgraded Moderna shares from Sell to Hold. Piper Sandler maintained its Overweight rating for Moderna, projecting sales for SpikeVax to reach $2.85 billion. Conversely, RBC Capital downgraded Moderna from 'Outperform' to 'Sector Perform'. These are the recent developments for Moderna.

InvestingPro Insights

Moderna, Inc. (NASDAQ:MRNA) has been navigating a challenging market environment, reflected in its recent financial metrics. According to InvestingPro data, Moderna holds a market capitalization of $29.74 billion. This valuation comes at a time when the company has experienced a significant revenue decline over the last twelve months, with a -52.6% change, indicating potential headwinds in sales growth. Moreover, the company's price-to-earnings (P/E) ratio stands at -5.03, underscoring the earnings challenges it faces.

InvestingPro Tips for Moderna highlight several critical points investors may consider. Notably, Moderna's balance sheet holds more cash than debt, providing some financial stability in uncertain times. Additionally, the company's Relative Strength Index (RSI) suggests the stock is currently in oversold territory, which might attract investors looking for potential rebounds. However, it's essential to note that 11 analysts have revised their earnings estimates downwards for the upcoming period, and analysts anticipate a sales decline in the current year, which could be a concern for future profitability.

For those considering an investment in Moderna or monitoring the stock for strategic moves, it's worth noting that the company's stock price has seen significant volatility, with a -34.71% return over the last month. Despite this, Moderna has delivered a high return over the last decade, which may be of interest to long-term investors. Additional insights and tips are available on InvestingPro, with a total of 14 tips listed for Moderna, offering a more comprehensive analysis for informed investment decisions.

Investors can find more in-depth analytics and tips to navigate Moderna's stock performance on InvestingPro's dedicated page for Moderna at https://www.investing.com/pro/MRNA.

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