CAMBRIDGE, MA—Shannon Thyme Klinger, the Chief Legal Officer of Moderna , Inc. (NASDAQ:MRNA), sold 529 shares of the company's common stock on December 9, 2024. The shares were sold at an average price of $44.683, totaling approximately $23,637. The transaction comes as Moderna's stock has experienced significant volatility, with shares down nearly 70% over the past six months, according to InvestingPro data.
The sale was part of a transaction to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). These sales were mandated by Moderna's equity incentive plans and do not represent discretionary trades by Klinger. InvestingPro analysis shows Moderna maintains a strong balance sheet with more cash than debt, and its overall financial health is rated as FAIR. Get access to 12 additional ProTips and comprehensive analysis with an InvestingPro subscription.
Earlier, on December 6, Klinger acquired 1,138 shares of common stock through the conversion of restricted stock units, which were acquired at no cost. Following these transactions, Klinger holds 20,446 shares of Moderna's common stock, currently valued at approximately $849,000 based on the latest market price.
In other recent news, Moderna has reported notable developments. The company's third-quarter financial performance in 2024 highlighted revenues of $1.9 billion and a net income of $13 million. Moderna's mRESVIA vaccine has also received approval in Canada, marking a significant milestone for the company. Analyst firms such as Berenberg, Piper Sandler, and TD Cowen have provided their perspectives on Moderna's stock, with Berenberg initiating coverage with a Hold rating, Piper Sandler maintaining an Overweight rating despite lowering its price target, and TD Cowen revising its price target downward while keeping a Hold rating. Moderna has announced plans to release eight new vaccines by 2028, which analysts from Piper Sandler anticipate will boost sales after a projected low in 2025. The company also intends to purchase its Norwood campus for $400 million and awaits multiple vaccine approvals in the coming years. The firm Leerink Partners maintained their Underperform rating on Moderna, expressing skepticism regarding the success of Moderna's Phase 3 CMVictory study on cytomegalovirus, which is anticipated to have an interim update by the end of 2024. These are some of the recent developments that have occurred.
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