Moderna (NASDAQ:MRNA) Now Covered by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Moderna (NASDAQ:MRNA) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued an underperform rating and a $40.00 price target on the stock.

Several other brokerages also recently commented on MRNA. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on Moderna from $70.00 to $59.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Leerink Partners decreased their price objective on Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, September 17th. Bank of America dropped their target price on Moderna from $130.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Barclays decreased their price target on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.22.

Moderna Stock Performance

NASDAQ MRNA traded down $2.92 during trading on Friday, reaching $36.85. 24,355,514 shares of the company’s stock were exchanged, compared to its average volume of 4,710,303. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. The business has a 50 day moving average price of $58.56 and a 200-day moving average price of $96.88. The stock has a market capitalization of $14.18 billion, a P/E ratio of -6.33 and a beta of 1.69. Moderna has a fifty-two week low of $35.80 and a fifty-two week high of $170.47.

Moderna (NASDAQ:MRNA) last posted its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.89) by $1.92. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned ($1.39) EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that Moderna will post -9.43 earnings per share for the current fiscal year.

Insider Activity at Moderna

In related news, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. This represents a 13.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 2,930 shares of company stock valued at $217,170 over the last ninety days. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of Moderna

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intrinsic Value Partners LLC boosted its holdings in shares of Moderna by 91.1% during the 3rd quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock valued at $3,435,000 after acquiring an additional 24,505 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Moderna by 11.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock valued at $107,885,000 after purchasing an additional 167,596 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Moderna by 148.2% during the third quarter. Vontobel Holding Ltd. now owns 116,088 shares of the company’s stock worth $7,758,000 after purchasing an additional 69,313 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Moderna by 20.9% in the second quarter. Profund Advisors LLC now owns 56,218 shares of the company’s stock valued at $6,676,000 after buying an additional 9,719 shares during the period. Finally, Privium Fund Management B.V. boosted its position in Moderna by 74.0% during the 3rd quarter. Privium Fund Management B.V. now owns 40,482 shares of the company’s stock worth $2,705,000 after buying an additional 17,221 shares during the period. Institutional investors own 75.33% of the company’s stock.

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.