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Moderna CFO sells shares worth over $71k

Published 04/10/2024, 04:12 AM
© Reuters

Moderna , Inc. (NASDAQ:MRNA) Chief Financial Officer, James M. Mock, has recently engaged in transactions involving the company's stock, according to the latest SEC filings. The executive sold a total of 705 shares of Moderna common stock at an average price of $101.9281, netting a total of $71,859.

The sale occurred on April 8th and was part of a "sell to cover" transaction, which is commonly used to satisfy tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). This type of sale is mandated by the company's equity incentive plans and is not considered a discretionary trade by the executive.

In addition to the sale, Mock also acquired 1,453 shares of Moderna common stock on April 5th through the conversion of RSUs, which convert on a one-for-one basis. However, this transaction did not involve any cash exchange, as it was simply the vesting of previously granted equity. The RSUs vested are part of an award where 25% vested in October of the previous year, with the remainder scheduled to vest in twelve equal quarterly installments.

Following these transactions, CFO James M. Mock now directly owns 5,753 shares of Moderna common stock. For investors keeping a close eye on insider trading patterns, these recent filings provide a glimpse into the stock dealings of one of Moderna's key executives.

InvestingPro Insights

In light of the recent transactions by Moderna's CFO, James M. Mock, investors may be curious about the company's financial health and market performance. According to InvestingPro data, Moderna currently holds a market capitalization of $42.73 billion, indicating its significant presence in the biotech sector. However, the company's P/E ratio stands at -9.19 for the last twelve months as of Q4 2023, reflecting investor skepticism about future earnings or potentially high growth expectations not yet realized in earnings.

InvestingPro Tips reveal that Moderna's management has been actively repurchasing shares, which could be a sign of confidence in the company's value. Additionally, the company maintains a strong liquidity position, holding more cash than debt on its balance sheet, and liquid assets exceed short-term obligations. These financial strengths may provide some reassurance to investors concerned about the company's ability to navigate through periods of uncertainty.

Nevertheless, analysts are anticipating a sales decline in the current year, and the company has struggled with weak gross profit margins, as evidenced by the -39.28% gross profit margin for the last twelve months as of Q4 2023. This could be a point of concern for investors considering the company's long-term profitability.

For those interested in a deeper dive into Moderna's financials and future prospects, InvestingPro offers a comprehensive array of additional tips. There are 11 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/MRNA. To enrich your investment decision-making process, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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