Maryland State Retirement & Pension System Sells 1,165 Shares of Moderna, Inc. (NASDAQ:MRNA)

Maryland State Retirement & Pension System cut its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 6.3% during the fourth quarter, Holdings Channel reports. The fund owned 17,256 shares of the company’s stock after selling 1,165 shares during the period. Maryland State Retirement & Pension System’s holdings in Moderna were worth $718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB grew its stake in shares of Moderna by 295.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after purchasing an additional 587 shares during the last quarter. Compass Planning Associates Inc acquired a new position in Moderna during the 4th quarter worth $37,000. Venturi Wealth Management LLC boosted its position in Moderna by 286.2% in the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after buying an additional 664 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Moderna by 58.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock valued at $44,000 after buying an additional 389 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Moderna by 53.1% during the fourth quarter. Blue Trust Inc. now owns 1,119 shares of the company’s stock worth $47,000 after acquiring an additional 388 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MRNA has been the topic of several recent research reports. Bank of America decreased their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, February 11th. Berenberg Bank lifted their price target on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Citigroup began coverage on shares of Moderna in a report on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective on the stock. Argus lowered shares of Moderna from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their price target on Moderna from $40.00 to $33.00 and set an “underweight” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.00.

Moderna Stock Up 4.6 %

Shares of MRNA stock opened at $34.17 on Tuesday. Moderna, Inc. has a 12-month low of $29.25 and a 12-month high of $170.47. The firm has a fifty day moving average of $34.89 and a 200-day moving average of $45.39. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of -3.68 and a beta of 1.86.

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.