Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Moderna, Inc. (NASDAQ:MRNA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 0.7% in the 2nd quarter, Holdings Channel reports. The fund owned 134,143 shares of the company’s stock after acquiring an additional 896 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Moderna were worth $15,929,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of Moderna by 7.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,672 shares of the company’s stock valued at $266,000 after buying an additional 187 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Moderna in the 4th quarter worth approximately $1,358,000. Hobbs Group Advisors LLC acquired a new position in shares of Moderna in the 4th quarter worth approximately $664,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Moderna by 22.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 51,791 shares of the company’s stock worth $5,519,000 after acquiring an additional 9,360 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Moderna in the 1st quarter worth approximately $3,315,000. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Moderna Stock Performance

MRNA stock traded down $1.26 during midday trading on Friday, reaching $76.33. 1,448,242 shares of the company were exchanged, compared to its average volume of 4,070,873. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.91. The business has a 50-day moving average price of $105.74 and a two-hundred day moving average price of $112.88. Moderna, Inc. has a one year low of $62.55 and a one year high of $170.47. The firm has a market capitalization of $29.25 billion, a price-to-earnings ratio of -4.95 and a beta of 1.67.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping the consensus estimate of ($3.47) by $0.14. The business had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $128.41 million. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. Moderna’s revenue was down 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.62) earnings per share. Equities research analysts forecast that Moderna, Inc. will post -7.46 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James M. Mock sold 1,321 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the sale, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Moderna news, CFO James M. Mock sold 1,321 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the transaction, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Hoge sold 15,000 shares of Moderna stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.16, for a total value of $2,072,400.00. Following the sale, the president now owns 1,457,089 shares of the company’s stock, valued at approximately $201,311,416.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 330,274 shares of company stock worth $46,294,062. Corporate insiders own 15.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Moderna from $96.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group reduced their target price on shares of Moderna from $204.00 to $178.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Oppenheimer lifted their target price on shares of Moderna from $163.00 to $179.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. HSBC upgraded shares of Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price target for the company in a report on Wednesday. Finally, Hsbc Global Res upgraded shares of Moderna from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.79.

Moderna 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.