Moderna (NASDAQ:MRNA) Stock Rating Lowered by JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Friday, Briefing.com reports. They currently have a $70.00 price target on the stock, down from their prior price target of $88.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.46% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $157.00 price objective (down from $214.00) on shares of Moderna in a report on Friday, August 2nd. Hsbc Global Res upgraded shares of Moderna from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group decreased their price objective on shares of Moderna from $204.00 to $178.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Barclays dropped their target price on shares of Moderna from $168.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada lowered shares of Moderna from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $125.00 to $90.00 in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Moderna presently has an average rating of “Hold” and an average target price of $115.21.

Moderna Trading Down 12.4 %

Shares of NASDAQ MRNA opened at $69.68 on Friday. The firm’s 50 day moving average price is $96.06 and its 200-day moving average price is $111.86. Moderna has a 52-week low of $62.55 and a 52-week high of $170.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.92 and a current ratio of 4.09. The company has a market cap of $26.70 billion, a PE ratio of -4.45 and a beta of 1.67.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, August 1st. The company reported ($3.33) EPS for the quarter, beating the consensus estimate of ($3.47) by $0.14. The business had revenue of $241.00 million for the quarter, compared to the consensus estimate of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. During the same period last year, the business posted ($3.62) EPS. The company’s revenue was down 29.9% compared to the same quarter last year. On average, equities research analysts expect that Moderna will post -9.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James M. Mock sold 689 shares of Moderna stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $118.24, for a total transaction of $81,467.36. Following the transaction, the chief financial officer now directly owns 7,269 shares of the company’s stock, valued at approximately $859,486.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, President Stephen Hoge sold 15,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $138.16, for a total value of $2,072,400.00. Following the transaction, the president now directly owns 1,457,089 shares in the company, valued at $201,311,416.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Mock sold 689 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $118.24, for a total value of $81,467.36. Following the completion of the transaction, the chief financial officer now directly owns 7,269 shares of the company’s stock, valued at approximately $859,486.56. The disclosure for this sale can be found here. Insiders sold a total of 108,158 shares of company stock worth $13,239,712 over the last quarter. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRNA. Vanguard Group Inc. boosted its position in shares of Moderna by 15.1% during the first quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock worth $4,159,769,000 after acquiring an additional 5,129,800 shares during the last quarter. Wellington Management Group LLP increased 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 last quarter. Capital World Investors boosted its holdings in shares of Moderna by 0.5% during the 1st quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock valued at $388,743,000 after purchasing an additional 18,728 shares during the last quarter. Norges Bank purchased a new position in shares of Moderna during the fourth quarter valued at about $347,565,000. Finally, Mawer Investment Management Ltd. increased its holdings in shares of Moderna by 6.7% in the first quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock worth $204,230,000 after purchasing an additional 120,621 shares during the last quarter. 75.33% of the stock is currently 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.