Moderna (NASDAQ:MRNA) Shares Gap Down to $79.51

Moderna, Inc. (NASDAQ:MRNA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $79.51, but opened at $67.89. Moderna shares last traded at $65.12, with a volume of 7,591,731 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on MRNA shares. Piper Sandler decreased their price objective on shares of Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada dropped their target price on shares of Moderna from $90.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday. Bank of America reduced their target price on shares of Moderna from $130.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday. Barclays decreased their price target on shares of Moderna from $168.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.53.

Moderna Stock Performance

The stock has a market capitalization of $26.17 billion, a P/E ratio of -4.36 and a beta of 1.67. The stock’s 50-day simple moving average is $95.06 and its 200 day simple moving average is $111.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) EPS for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. The business had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. Moderna’s quarterly revenue was down 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.62) EPS. Research analysts expect that Moderna, Inc. will post -9.52 EPS for the current fiscal year.

Insider Transactions at Moderna

In other news, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were 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 owns 8,600 shares of the company’s stock, valued at $682,754. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $127.22, for a total transaction of $1,908,300.00. Following the sale, the director now directly owns 2,284,015 shares in the company, valued at $290,572,388.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at $682,754. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,158 shares of company stock worth $13,239,712. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MRNA. Cedar Wealth Management LLC lifted its stake in Moderna by 45.0% during the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after purchasing an additional 90 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Moderna by 1.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock worth $660,000 after acquiring an additional 93 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Moderna by 21.6% in the second quarter. CVA Family Office LLC now owns 541 shares of the company’s stock worth $64,000 after acquiring an additional 96 shares during the last quarter. Claro Advisors LLC boosted its stake in shares of Moderna by 2.0% in the 2nd quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock valued at $659,000 after purchasing an additional 108 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Moderna by 32.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock valued at $47,000 after purchasing an additional 116 shares during the last quarter. 75.33% of the stock is owned by 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.