Moderna (NASDAQ:MRNA) Stock Price Down 7% – Here’s Why

Shares of Moderna, Inc. (NASDAQ:MRNA) dropped 7% during mid-day trading on Wednesday . The stock traded as low as $74.11 and last traded at $74.2230. 2,186,441 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 9,279,514 shares. The stock had previously closed at $79.77.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MRNA shares. Jefferies Financial Group reiterated a “hold” rating on shares of Moderna in a research report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Moderna in a research note on Friday, June 12th. Bank of America raised their price target on shares of Moderna from $34.00 to $38.00 and gave the company an “underperform” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Moderna from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, UBS Group reiterated a “neutral” rating on shares of Moderna in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $38.27.

Moderna Trading Down 6.8%

The company has a 50 day simple moving average of $54.66 and a 200 day simple moving average of $48.93. The company has a market capitalization of $29.50 billion, a PE ratio of -9.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.41.

Moderna (NASDAQ:MRNA) last released its earnings results on Friday, May 1st. The company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of ($3.02) by ($0.38). The firm had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $236.37 million. Moderna had a negative net margin of 143.55% and a negative return on equity of 26.64%. The business’s revenue was up 260.2% compared to the same quarter last year. During the same quarter last year, the business earned ($2.52) EPS. Analysts anticipate that Moderna, Inc. will post -6.51 earnings per share for the current year.

Insider Transactions at Moderna

In other Moderna news, insider Shannon Thyme Klinger sold 3,471 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $50.00, for a total value of $173,550.00. Following the transaction, the insider owned 67,468 shares in the company, valued at approximately $3,373,400. This trade represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Abbas Hussain sold 5,682 shares of Moderna stock in a transaction on Friday, May 1st. The stock was sold at an average price of $46.63, for a total transaction of $264,951.66. Following the sale, the director directly owned 12,066 shares in the company, valued at approximately $562,637.58. This trade represents a 32.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 125,088 shares of company stock worth $6,193,713. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Moderna

Several large investors have recently bought and sold shares of MRNA. MUFG Securities EMEA plc acquired a new stake in Moderna in the 2nd quarter valued at about $28,000. Flagship Harbor Advisors LLC acquired a new position in shares of Moderna during the 4th quarter worth approximately $31,000. Canton Hathaway LLC purchased a new stake in shares of Moderna in the first quarter valued at approximately $31,000. Ameriflex Group Inc. grew its position in shares of Moderna by 3,775.0% in the third quarter. Ameriflex Group Inc. now owns 1,240 shares of the company’s stock valued at $32,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Cromwell Holdings LLC increased its holdings in shares of Moderna by 39.7% in the fourth quarter. Cromwell Holdings LLC now owns 1,200 shares of the company’s stock valued at $35,000 after purchasing an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Moderna Company Profile

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.