Moderna’s managers sold shares in their own group for over $ 3.6 billion. The in-depth analysis by Fabio Pavesi, economics and finance journalist already at Sole 24 Ore for Affaritaliani
Every time the sun rises, Stephane Bancel, the CEO and first shareholder of Moderna, has two concerns.
Update the “abacus” of the production and delivery of doses of the Covid vaccine of his company, but above all decide how many shares of his group to sell. The second occupation is certainly the most prolific for him. The last operation in which Bancel freed himself on the Moderna share market is dated March 5th. That day he sold a package of 11,000 securities in several tranches for a consideration of $ 1.4 million. The collection of just one day.
Two days earlier he doubled the dose: 19,000 stocks at a value of $ 130 per share. He resulted in $ 2.47 million in revenue in his personal portfolio. And he made even more money without a shot being fired in February. In just two days, with the title worth 180 dollars, he placed 21 thousand pieces, totaling 3.8 million dollars. After all, his fixed emolument as CEO of Moderna no matter how big it is, and a no brainer compared to the earnings that Bancel makes by selling the shares of his company.
But Bancel is certainly not the only one. In addition to sending the Covid vaccine around the world, all front-line managers are committed to discarding their actions. The head of Moderna’s medical area, Zaks Tal Zvi, does this with enormous profit.
On March 8 alone, it sold shares for $ 2.1 million. Not least was Councilor Lori Henderson. In the first week of March, you got rid of $ 2.7 million worth of securities.
The biggest hit, however, was achieved by the manager Afeyan Noubar who in 2 days, on February 22nd and 24th, sold the beauty of 6.5 million shares for the astonishing collection of 980 million dollars in just 72 hours. A true record holder.
The miracle vaccine is thus proving to be not only the business of life for the small company listed on Nasdaq which is still at a loss, but which in 2021 will make a bang in the jump in revenues by multiplying them by 20 times as per the estimates of Moderna itself, but also a real financial Bengodi for its top management.
All people starting from the CEO Bancel who have substantial stakes of shares in the form of stock options and who obviously profited from the mighty leap forward in the stock market price, immediately passing to the collection on the market. According to the data collected by the Nasdaq in the last year, therefore in the middle of the path towards the discovery and placing on the market of the vaccine, the leaders and the main shareholders including Bancel himself and Noubar have sold Moderna shares for the figure of 36 million. pieces that with the title taken off from $ 23 in March 2020 to a maximum of $ 185 in early February 2021, meant an average collection of almost $ 4 billion distributed among a dozen subjects.
Not bad, the biggest financial binge that the recent history of the stock market can include. Among other things, the massive receipts of Bancel and its managers are peanuts compared to the shares still held today.
Bancel still directly owns 6.4 million Moderna shares (which at current prices are worth almost 900 million dollars) and another 16.5 million shares owned indirectly by the Boston Biotech and Ocha personal financial boxes. Bancel’s assets despite the large sales in Moderna shares are worth over 3.1 billion dollars.
While the other major partner-manager, Noubar, still owns 14 million shares in the company. And so from Cinderella of biotech with losses that still in 2020 were 750 million dollars equal to almost the entire turnover of the year, Moderna is preparing to become the new King Midas this year and in future years.
Estimated revenue from orders of 1 billion doses this year is expected at $ 18 billion. From 800 million in turnover to 18 billion in 12 months and a quantum leap. And given that the profit margins on the Covid vaccine are in the order of at least 20% of revenues, this year for Moderna will close with net profits of at least 3.6 billion.
