VAXX - Vaxxinity down 9% after massive 84% rise in last trading session following insider buys

Shares of Vaxxinity (NASDAQ:VAXX) dropped ~9% in Monday afternoon trading after the stock skyrocketed on Friday, closing up 84%. The biotech has had several key developments occur over the past few days. Before market open on April 28, Vaxxinity (VAXX) said that results from part A of a phase 1 trial of its Parkinson's disease candidate UB-312 were published in a medical journal. The stock closed up ~4% that day. After market close on April 28, SEC filings indicated that CEO Mei Mei Hu Executive Chairman Lou Reese made indirect purchases on April 26 and 27 through United Biomedical. The purchases from both executives totaled ~$79.7K each. And on Monday, Vaxxinity (VAXX) announced that UB-311, a vaccine candidate for Alzheimer's, was granted Fast Track Designation by the U.S. FDA. Seeking Alpha reached out to Vaxxinity (VAXX) for comment on the the timing of the executive stock purchases but has yet to receive a response.

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Vaxxinity down 9% after massive 84% rise in last trading session following insider buys