The Nasdaq Composite gained more than 200 points on Friday. 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 $139.00. The insider received around $1.39 million from selling those shares.
• What’s Happening: Moderna said, in Dec. 2022, the company entered into non-exclusive patent license agreement with National Institute of Allergy and Infectious Diseases.
• 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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