With Moderna (MRNA) stocks skyrocketing following the successful rollout of the company’s COVID-19 vaccine, co-founder and chairman Noubar Afeyan has decided to sell a large portion of his shares totaling a value of approximately $1.4 billion.
From February 22nd through February 24th, Afeyan sold 6.5 million Moderna shares for a total of $986.4 million. From March 29th through March 31st, Afeyan sold his second batch of shares for an income of $455.7 million.
According to the forms signed with the Securities and Exchange Commission, Afeyan sold his shares in the biotech firm through units of Flagship Pioneering, another life sciences firm that he founded where he currently serves as CEO. With 20.6 million Moderna shares, Flagship Pioneering is now the third-largest Moderna shareholder.
Moderna shares have surged since the outbreak of the coronavirus pandemic last March, having risen more than five times in price. In addition to the development of the company’s initial COVID-19 vaccine, Moderna shares also endured a prominent rise due to its development of updated versions of the vaccine aimed at combatting various COVID-19 variants.
Despite the announcement that the company’s chief medical officer, Dr. Tal Zaks, would be resigning in late September 2020, Moderna’s stocks continued to exhibit a strong showing as the company recorded a strong fourth financial quarter.
