CNBC’s Jim Cramer said Wednesday that he wants to see insider trading in Moderna before deciding how confident they will be about the vaccine data the pharmaceutical company released Tuesday night.
“There is a document I want to see. I want to see if anyone sold any shares in Moderna today or tomorrow. Because that will really determine if this has to be put (with) a full asterisk … Note to Moderna: You don’t have to sell. You can sit on it, “Cramer said in” Squawk on the Street. “
CEO Stephane Bancel’s share sales this year and a secondary offering from the company in May have faced criticism as Moderna has provided regular updates on its Covid-19 vaccine candidate, which has sometimes contained incomplete information. Cramer said the company has been promotional and is publishing data it doesn’t need.
Bancel has sold more than 500,000 shares in the past three quarters, according to InsiderScore.com. Many of these transactions have been part of predetermined business plans.
Moderna’s shares appeared after the release of test data on Tuesday night. The stock price rose more than 12% to approximately $ 84.50 per share on Wednesday morning.
The securities statements showed that Moderna executives sold shares in the past week, before releasing the data.
Bancel sold approximately 20,000 shares on July 10, at an average price of around $ 64 per share. Bancel’s moves were part of a predetermined plan for the sale of shares.
Medical director Tal Zaks made similar moves, according to the stock statements. Zaks exercised the stock options to buy 20,000 shares of Moderna on Monday and sold all of those shares at the end of the day.
Options were exercised at approximately $ 20 per share, while the sales series had weighted averages between $ 64 and $ 78 per share.
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