On Friday, the Nasdaq Composite fell more than 400 points. Investors, meanwhile, paid close attention to a few special insider stocks deal.
When insiders sell shares, it’s a sign that they’re worried about the company’s future or think the stock is expensive. In any case, this suggests a chance to short the stock. Insider sales shouldn’t be used as the only signal when choosing between different investments or trading strategies. It can, at most, give a selling choice more conviction.
Insider Stocks Trade
Moderna Stock
The transaction included the sale of 10,000 shares of Moderna stock (NYSE:MRNA) at an average price of $122.40. Selling those shares brought in almost $1.22 million for the insider.
What’s going on: The European Commission has approved the transformation of Moderna’s Spikevax’s conditional marketing authorization into a regular marketing authorization.
What Moderna Does: Established in 2010, Moderna is commercial-stage biotech that went public in December of last year.
Eli Lilly Stock
The Transaction: Lilly Endowment Inc, the 10% owner of Eli Lilly and Company, sold 149,264 shares of Eli Lilly stock (NYSE:LLY) at an average price of $334.54. The insider made a profit of almost $49.93 million from the deal.
What’s going on: The FDA has approved Eli Lilly’s tirzepatide Fast Track designation for people who are obese or overweight and have weight-related comorbidities.
What Eli Lilly Does: Eli Lilly is a pharmaceutical company that specializes in cancer, neurology, endocrinology, and immunology.
Regeneron Pharmaceuticals, Inc. Stock
Christopher R. Fenimore, SVP Controller of REGN, sold 1,844 shares in total for an average price of $749.00. Selling those shares brought in around $1.38 million for the insider.
What’s Going On: Goldman Sachs just maintained its Buy rating on the stock while increasing its price objective from $970 to $796.
What Regeneron Pharmaceuticals Does: Regeneron Pharmaceuticals finds, develops, and sells medicines to treat inflammation, cancer, cardiovascular disease, and eye disorders.
Featured Image- Megapixl @ OceanProd
Author Okoro Chinedu 
