Moderna (NASDAQ:MRNA) Shares Gap Up – What’s Next?

Moderna, Inc. (NASDAQ:MRNA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $30.37, but opened at $32.50. Moderna shares last traded at $33.08, with a volume of 4,892,518 shares changing hands.

Wall Street Analysts Forecast Growth

MRNA has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Evercore ISI set a $50.00 price target on Moderna in a research report on Friday, February 14th. Bank of America reduced their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Berenberg Bank upped their price target on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group cut Moderna from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.63.

Moderna Price Performance

The business has a 50-day simple moving average of $36.69 and a 200-day simple moving average of $49.67. The firm has a market capitalization of $13.23 billion, a PE ratio of -3.70 and a beta of 1.86.

Institutional Investors Weigh In On Moderna

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRNA. Norges Bank purchased a new stake in Moderna during the fourth quarter valued at approximately $163,833,000. Voloridge Investment Management LLC raised its position in Moderna by 335.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock valued at $107,727,000 after purchasing an additional 1,996,003 shares during the period. State Street Corp raised its holdings in shares of Moderna by 12.1% in the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after buying an additional 1,823,276 shares during the period. FMR LLC raised 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 period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Moderna by 170.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock worth $73,447,000 after buying an additional 1,113,455 shares during the period. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

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.