Moderna (NASDAQ:MRNA) Stock Rating Lowered by Oppenheimer

Oppenheimer downgraded shares of Moderna (NASDAQ:MRNA) from an outperform rating to a market perform rating in a research note published on Friday morning, MarketBeat reports.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reissued a hold rating on shares of Moderna in a research report on Thursday, August 1st. Piper Sandler reaffirmed an overweight rating and set a $157.00 price target (down from $214.00) on shares of Moderna in a research report on Friday, August 2nd. Evercore ISI reaffirmed an in-line rating and set a $120.00 price target on shares of Moderna in a research report on Thursday, June 27th. HSBC raised shares of Moderna from a reduce rating to a hold rating and set a $82.00 price target on the stock in a research report on Wednesday, August 28th. Finally, Hsbc Global Res raised shares of Moderna from a moderate sell rating to a hold rating in a research report on Wednesday, August 28th. 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, Moderna has an average rating of Hold and a consensus price target of $103.93.

Moderna Price Performance

Shares of MRNA opened at $69.17 on Friday. The firm has a market capitalization of $26.51 billion, a PE ratio of -4.41 and a beta of 1.67. The company’s 50-day moving average is $94.12 and its 200-day moving average is $111.72. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $170.47. 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 issued its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, beating the consensus estimate of ($3.47) by $0.14. The company 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%. The company’s revenue was down 29.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.62) earnings per share. Equities analysts forecast that Moderna will post -9.52 EPS for the current year.

Insider Buying and Selling

In other Moderna news, CFO James M. Mock sold 1,321 shares of the firm’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 in the company, valued at approximately $682,754. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Moderna news, CFO James M. Mock sold 1,321 shares of the firm’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 in the company, valued at approximately $682,754. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $117.08, for a total transaction of $1,756,200.00. Following the transaction, the director now owns 2,269,015 shares of the company’s stock, valued at approximately $265,656,276.20. The disclosure for this sale can be found here. Insiders have sold a total of 93,158 shares of company stock worth $11,167,312 in the last ninety days. Company insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Moderna in the 2nd quarter valued at $26,000. Ogorek Anthony Joseph NY ADV bought a new stake in shares of Moderna in the 4th quarter valued at $27,000. Cedar Wealth Management LLC increased its stake in shares of Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after acquiring an additional 90 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Moderna in the 1st quarter valued at $32,000. Finally, Family Firm Inc. bought a new stake in shares of Moderna in the 2nd quarter valued at $33,000. Institutional investors own 75.33% of the company’s stock.

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.