VAXX - Vaxxinity shares spike after insider purchases

The shares of the clinical-stage biotech Vaxxinity (NASDAQ:VAXX) have recorded the biggest intraday gain on Friday since its IPO late last year after the company’s top executives disclosed multiple insider purchases. They include Vaxxinity’s (VAXX) Founder and Chief Executive Officer Mei Mei Hu and the Executive Chairman, Lou Reese. According to SEC filings, Mei Mei Hu and Reese Lou reported the purchase of ~22.9K Vaxxinity (VAXX) shares, each valued at ~$79.7K on Tuesday as part of indirect ownership with United Biomedical. In 2021, Vaxxinity (VAXX) was formed after the combination of United Neuroscience and C19 Corp., two spinouts that originated from United Biomedical in 2014 and 2021, to focus on chronic disease candidates and a COVID-19 vaccine candidate, respectively.

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Vaxxinity shares spike after insider purchases