Moderna (NASDAQ:MRNA) Sees Unusually-High Trading Volume – Here’s What Happened

Moderna, Inc. (NASDAQ:MRNA) shares saw an uptick in trading volume on Tuesday . 14,994,356 shares were traded during trading, an increase of 91% from the previous session’s volume of 7,860,246 shares.The stock last traded at $28.93 and had previously closed at $26.39.

Analyst Ratings Changes

A number of brokerages recently weighed in on MRNA. JPMorgan Chase & Co. cut their price target on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating on the stock in a research report on Friday, March 21st. Citigroup began coverage on Moderna in a research report on Thursday, March 13th. They set a “neutral” rating and a $40.00 price target on the stock. The Goldman Sachs Group lowered Moderna from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $99.00 to $51.00 in a research report on Wednesday, January 29th. Morgan Stanley cut their price target on shares of Moderna from $39.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group dropped their price objective on shares of Moderna from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.95.

Moderna Price Performance

The business’s fifty day moving average price is $27.70 and its 200-day moving average price is $35.11. The stock has a market capitalization of $11.10 billion, a PE ratio of -3.02 and a beta of 1.99.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.92) by $0.40. The business had revenue of $108.00 million during the quarter, compared to analyst estimates of $130.35 million. Moderna had a negative net margin of 110.04% and a negative return on equity of 28.74%. The company’s revenue was down 35.3% on a year-over-year basis. During the same period in the prior year, the business posted ($3.07) earnings per share. On average, analysts expect that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Moderna in the fourth quarter worth approximately $163,833,000. Voloridge Investment Management LLC boosted its position in Moderna by 335.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock worth $107,727,000 after purchasing an additional 1,996,003 shares during the last quarter. FMR LLC boosted its holdings in shares of Moderna by 7.4% in the fourth quarter. FMR LLC now owns 18,664,634 shares of the company’s stock worth $776,075,000 after buying an additional 1,282,469 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Moderna by 170.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock worth $73,447,000 after purchasing an additional 1,113,455 shares in the last quarter. Finally, SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new stake in Moderna in the 1st quarter worth approximately $28,350,000. Institutional investors own 75.33% of the company’s stock.

About Moderna

Moderna, Inc, a biotechnology company, discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and internationally. Its respiratory vaccines include COVID-19, influenza, and respiratory syncytial virus, spikevax, and hMPV/PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, herpes simplex virus, varicella zoster virus, and human immunodeficiency virus vaccines; public health vaccines consists of Zika, Nipah, Mpox vaccines; and infectious diseases vaccines, such as lyme and norovirus vaccines.