Ross Stores, Vertex Pharmaceuticals And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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. MRNA Director Noubar B. Afeyan sold a total of 15,000 shares at an average price of $115.51. The insider received around $1.73 million from selling those shares.
• What’s Happening: A Chinese biotech, CARsgen Therapeutics and Moderna have collaborated to investigate CARsgen's investigational Claudin18.2 CAR T-cell product candidate (CT041) in combination with Moderna's investigational Claudin18.2 mRNA cancer vaccine.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

Have a look at our premarket coverage here

DXC Technology Company

• The Trade: DXC Technology Company DXC EVP & General Counsel William Deckelman Jr sold a total of 75,000 shares at an average price of $20.72. The insider received around $1.55 million from selling those shares.
• What’s Happening: DXC Technology reported worse-than-expected first-quarter results and issued weak guidance.
• What DXC Technology Does: DXC Technology Co is a vendor-independent IT services provider.

Vertex Pharmaceuticals

• The Trade: Vertex Pharmaceuticals Incorporated VRTX EVP, Chief Reg. & Quality Off. Ourania Tatsis sold a total of 2,500 shares at an average price of $355.00. The insider received around $887,500 from selling those shares.
• What’s Happening: Vertex Pharmaceuticals’ second-quarter sales increased 14% to $2.49 billion, beating the consensus of $2.41 billion.
• What Vertex Pharmaceuticals Does: Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases.

Ross Stores

• The Trade: Ross Stores, Inc. ROST PRESIDENT, CMO DD'S DISCOUNTS Brian R Morrow sold a total of 25,945 shares at an average price of $121.53. The insider received around $3.15 million from selling those shares.
• What’s Happening: Ross Stores reported better-than-expected second-quarter financial results and issued guidance.
• What Ross Stores Does: Ross Stores is a leading American off-price apparel and home fashion retailer, operating over 2,000 stores (at the end of fiscal 2022) under the Ross Dress for Less and dd's Discounts banners.

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