A company insider recently sold 544 shares of Moderna Inc [MRNA]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Moderna Inc shares valued at $53,884 were sold by Klinger Shannon Thyme on Mar 08 ’24. At $99.05 per share, Klinger Shannon Thyme sold 544 shares. The insider’s holdings dropped to 9,267 shares worth approximately $0.99 million following the completion of this transaction.

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Also, Hoge Stephen sold 309 shares, netting a total of over 29,151 in proceeds. Following the sale of shares at $94.34 each, the insider now holds 1,516,241 shares.

Before that, Klinger Shannon Thyme had sold 117 shares from its account. In a trade valued at $11,038, the Chief Legal Officer traded Moderna Inc shares for $94.34 each. Upon closing the transaction, the insider’s holdings decreased to 117 shares, worth approximately $0.92 million.

As published in a research note from HSBC Securities on February 26, 2024, Moderna Inc [MRNA] has been rated down from a Hold to a Reduce and the price target has been revised to $86 from $75. Analysts at Oppenheimer upgraded the stock from ‘”a Perform”‘ to ‘”an Outperform”‘ outlook in a report released in early January. As of November 29, 2023, Canaccord Genuity has initiated its “Hold” rating for MRNA. Earlier on November 03, 2023, HSBC Securities upgraded its rating. Their new recommendation was “a Hold” for MRNA stock which previously was a “a Reduce”.

Analyzing MRNA Stock Performance

During the last five days, there has been a surge of approximately 8.57%. Over the course of the year, Moderna Inc shares have jumped approximately 7.10%. Shares of the company reached a 52-week high of $115.97 on 01/08/24 and a 52-week low of $84.06 on 02/13/24. A 50-day SMA is recorded $99.69, while a 200-day SMA reached $101.55. Nevertheless, trading volume fell to 5.12 million shares from 9.87 million shares the previous day.

Support And Resistance Levels for Moderna Inc (MRNA)

According to the 24-hour chart, there is a support level at 104.12, which, if violated, would cause prices to drop to 101.72. In the upper region, resistance lies at 110.78. The next price resistance is at 115.04. RSI (Relative Strength Index) is 59.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.17, which suggests the price will increase in the coming days. Percent R is at 33.96%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Moderna Inc subject to short interest?

Stocks of Moderna Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.23 million shares to 22.11 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 20.88 million shares. A jump of 5.56% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.38.

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