As Moderna shares plunge below $50 in Wednesday morning trading, I called back to my Forbes article of last week. Morgan Stanley’s management of the sale of primary shares by Moderna does not really raise an ethical question. Their analyst Matthew Harrison laughably proclaimed a 65% chance of success for mRNA-1273, Moderna’s Covid-19 vaccine candidate, after partial results from only eight initial trial participants were released. The problem with Moderna shares today is that the company has, via SEC Form 4 filings, divulged a wave of insider selling in the past two weeks. An institution that bought MRNA shares at the $76 offering price last Monday has already lost more than a third of that investment.

Source: Forbes May 27, 2020 15:45 UTC