US crude oil futures traded higher this morning on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company's prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
Moderna
- The Trade: Moderna, Inc. (NASDAQ:MRNA) Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $123.58. The insider received around $1.24 million from selling those shares.
- What's Happening: Moderna refused to hand over to China the core intellectual property related to the development of its famed COVID-19 vaccine.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
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Zscaler
- The Trade: Zscaler, Inc. (NASDAQ:ZS) Chief Operating Officer Dali Rajic sold a total of 20,000 shares at an average price of $168.00. The insider received around $3.36 million as a result of the transaction.
- What's Happening: Zscaler announced it has completed its acquisition of ShiftRight.
- What Zscaler Does: Zscaler is a security-as-a-service firm that offers its customers cloud-delivered solutions for protecting user devices and data.
Have a look at our premarket coverage here .
AlloVir
- The Trade: AlloVir, Inc. (NASDAQ:ALVR) Director David Hallal sold a total of 400,000 shares at an average price of $7.35. The insider received around $2.94 million from selling those shares.
- What's Happening: The company's shares have dipped around 42% since the start of the year.
- What AlloVir Does: AlloVir Inc is a late clinical-stage cell therapy company. It is developing allogeneic T cell therapies to treat and prevent devastating viral diseases.