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 ...
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