Moderna (NASDAQ:MRNA) Stock Price Up 7.1% – Here’s What Happened

Shares of Moderna, Inc. (NASDAQ:MRNAGet Free Report) traded up 7.1% on Thursday . The company traded as high as $49.24 and last traded at $49.89. 5,628,183 shares changed hands during trading, a decline of 57% from the average session volume of 13,154,808 shares. The stock had previously closed at $46.60.

More Moderna News

Here are the key news stories impacting Moderna this week:

Wall Street Analyst Weigh In

MRNA has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Moderna from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup reiterated a “neutral” rating on shares of Moderna in a research note on Monday. TD Cowen reissued a “hold” rating on shares of Moderna in a research note on Thursday, January 29th. Berenberg Bank set a $28.00 target price on Moderna in a report on Monday, November 17th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $17.00 price target on shares of Moderna in a report on Thursday, November 20th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $31.47.

Check Out Our Latest Report on Moderna

Moderna Stock Up 7.2%

The firm’s fifty day simple moving average is $38.21 and its two-hundred day simple moving average is $30.15. The company has a current ratio of 3.29, a quick ratio of 3.22 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $19.52 billion, a price-to-earnings ratio of -6.89 and a beta of 1.32.

Moderna (NASDAQ:MRNAGet Free Report) last announced its quarterly earnings results on Friday, February 13th. The company reported ($2.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.79) by $0.68. Moderna had a negative net margin of 145.16% and a negative return on equity of 30.15%. The business had revenue of $678.00 million during the quarter, compared to the consensus estimate of $611.14 million. During the same quarter last year, the firm earned ($2.91) EPS. The business’s revenue was down 33.2% compared to the same quarter last year. Sell-side analysts anticipate that Moderna, Inc. will post -9.61 EPS for the current year.

Insider Activity

In other Moderna news, Director Noubar Afeyan sold 23,853 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.48, for a total value of $703,186.44. Following the transaction, the director owned 3,924 shares of the company’s stock, valued at $115,679.52. This represents a 85.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Moderna

Institutional investors and hedge funds have recently made changes to their positions in the stock. New Mexico Educational Retirement Board raised its stake in Moderna by 1.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 15,700 shares of the company’s stock valued at $463,000 after purchasing an additional 300 shares in the last quarter. Cromwell Holdings LLC increased its holdings in shares of Moderna by 39.7% in the 4th quarter. Cromwell Holdings LLC now owns 1,200 shares of the company’s stock worth $35,000 after buying an additional 341 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Moderna by 5.4% in the 4th quarter. IFP Advisors Inc now owns 6,785 shares of the company’s stock worth $200,000 after buying an additional 348 shares during the last quarter. Empowered Funds LLC raised its position in shares of Moderna by 2.6% during the 4th quarter. Empowered Funds LLC now owns 13,732 shares of the company’s stock valued at $405,000 after buying an additional 353 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Moderna by 19.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock worth $65,000 after acquiring an additional 375 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

About Moderna

(Get Free Report)

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.

Further Reading

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