Moderna (NASDAQ:MRNA) Price Target Cut to $155.00

Moderna (NASDAQ:MRNA) had its price target cut by Barclays from $168.00 to $155.00 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the stock.

MRNA has been the subject of a number of other reports. William Blair reaffirmed a market perform rating on shares of Moderna in a research note on Thursday, June 27th. Canaccord Genuity Group upped their target price on shares of Moderna from $91.00 to $106.00 and gave the stock a hold rating in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a hold rating on shares of Moderna in a research note on Thursday. Jefferies Financial Group reaffirmed a buy rating and issued a $125.00 target price on shares of Moderna in a research note on Tuesday, April 9th. Finally, Piper Sandler reaffirmed an overweight rating and issued a $157.00 target price (down from $214.00) on shares of Moderna in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $126.59.

Moderna Trading Down 8.1 %

Shares of MRNA stock traded down $7.59 on Friday, hitting $86.58. The stock had a trading volume of 10,332,912 shares, compared to its average volume of 3,496,157. Moderna has a twelve month low of $62.55 and a twelve month high of $170.47. The firm has a market cap of $33.18 billion, a P/E ratio of -5.53 and a beta of 1.67. The company has a current ratio of 4.09, a quick ratio of 3.91 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $129.81 and a two-hundred day moving average price of $115.02.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.47) by $0.14. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The company had revenue of $241.00 million during the quarter, compared to analyst estimates of $128.41 million. During the same quarter in the previous year, the business earned ($3.62) EPS. The firm’s revenue was down 29.9% on a year-over-year basis. As a group, analysts forecast that Moderna will post -7.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $121.68, for a total value of $1,825,200.00. Following the sale, the director now directly owns 2,011,931 shares of the company’s stock, valued at approximately $244,811,764.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, President Stephen Hoge sold 255 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.96, for a total value of $30,844.80. Following the sale, the president now directly owns 1,486,508 shares of the company’s stock, valued at approximately $179,808,007.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $121.68, for a total transaction of $1,825,200.00. Following the completion of the transaction, the director now directly owns 2,011,931 shares in the company, valued at $244,811,764.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 396,239 shares of company stock valued at $55,563,937. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Moderna by 15.1% in the 1st quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock valued at $4,159,769,000 after acquiring an additional 5,129,800 shares during the period. Wellington Management Group LLP raised its holdings in Moderna by 28.8% in the 4th quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock valued at $718,584,000 after acquiring an additional 1,614,460 shares during the period. Capital World Investors raised its holdings in Moderna by 0.5% in the 1st quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock valued at $388,743,000 after acquiring an additional 18,728 shares during the period. Norges Bank bought a new position in Moderna in the 4th quarter valued at about $347,565,000. Finally, Mawer Investment Management Ltd. raised its holdings in Moderna by 6.7% in the 1st quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock valued at $204,230,000 after acquiring an additional 120,621 shares during the period. 75.33% of the stock is owned by 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.