Moderna (NASDAQ:MRNA) Trading Down 2.9%

Moderna, Inc. (NASDAQ:MRNA)’s stock price fell 2.9% during mid-day trading on Thursday . The company traded as low as $106.58 and last traded at $107.42. 1,385,361 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 4,368,859 shares. The stock had previously closed at $110.59.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRNA. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Moderna in a research note on Thursday. HSBC reissued a “reduce” rating and issued a $86.00 price target (up from $75.00) on shares of Moderna in a research note on Monday, February 26th. Oppenheimer upgraded Moderna from a “market perform” rating to an “outperform” rating and set a $142.00 price objective on the stock in a report on Tuesday, January 2nd. Finally, Canaccord Genuity Group raised their price objective on Moderna from $82.00 to $91.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Moderna presently has an average rating of “Hold” and an average price target of $129.82.

Moderna Stock Performance

The stock has a market capitalization of $40.80 billion, a P/E ratio of -8.66 and a beta of 1.60. The stock has a 50 day moving average of $98.79 and a 200 day moving average of $93.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.36 and a current ratio of 3.42.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $1.33. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.53 billion. Moderna had a negative return on equity of 10.23% and a negative net margin of 68.84%. The firm’s revenue was down 44.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.61 EPS. Equities analysts predict that Moderna, Inc. will post -7.48 EPS for the current year.

Insider Transactions at Moderna

In other news, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $102.39, for a total value of $1,535,850.00. Following the completion of the transaction, the director now owns 2,116,931 shares of the company’s stock, valued at $216,752,565.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $102.39, for a total value of $1,535,850.00. Following the completion of the sale, the director now owns 2,116,931 shares in the company, valued at $216,752,565.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James M. Mock sold 647 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total value of $61,186.79. Following the completion of the sale, the chief financial officer now owns 4,300 shares of the company’s stock, valued at approximately $406,651. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,021 shares of company stock valued at $5,211,442. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Moderna

Hedge funds have recently modified their holdings of the stock. First Pacific Financial purchased a new stake in shares of Moderna during the third quarter valued at $27,000. Ogorek Anthony Joseph NY ADV purchased a new stake in shares of Moderna during the fourth quarter valued at $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of Moderna during the fourth quarter valued at $27,000. Arlington Trust Co LLC lifted its holdings in shares of Moderna by 4,833.3% during the fourth quarter. Arlington Trust Co LLC now owns 296 shares of the company’s stock valued at $29,000 after purchasing an additional 290 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Moderna by 32.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock valued at $47,000 after purchasing an additional 116 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Moderna Company Profile

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.