Pfizer shares rose by more than 7% after peaking at over 15% on day of vaccine announcement

News Image

MG News | November 12, 2020 at 10:14 AM GMT+05:00

0:00

November 12, 2020: Pfizer CEO Albert Bourla sold $5.6 million of his stock in the US pharmaceutical company on the same day it announced promising results for its Covid-19 vaccine candidate, filings showed Wednesday.

The company, however, has reportedly said the sale was part of a pre-arranged periodic divestment plan when the stock reaches a certain price.

According to a disclosure with US market regulator SEC, Bourla sold 132,508 shares at $41.94 each on Monday.

An executive vice president at the company, Sally Susman, also sold around $1.8 million in stock, or 43,662 shares.

Pfizer shares rose by more than seven percent after peaking at over 15 percent on Monday, when the drugmaker announced that trials so far had shown its vaccine candidate being developed with German company BioNTech was 90 percent effective.

The company had not responded to a request for a comment from AFP, but a spokesman quoted by CNN described the sales as prearranged.

Sales at that price were previously scheduled as part of their personal financial management, the company said.

Such plans are designed to shield executives from insider trading accusations.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,660.00 119,740.00
117,630.00
-635.00
-0.54%
BRENT CRUDE 73.34 73.63
71.75
0.83
1.14%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.09 70.51
68.45
0.88
1.27%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg