JPMorgan Chase & Co. Cuts Moderna (NASDAQ:MRNA) Price Target to $59.00

Moderna (NASDAQ:MRNA) had its target price trimmed by JPMorgan Chase & Co. from $70.00 to $59.00 in a report published on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday, September 13th. HSBC upgraded Moderna from a “reduce” rating to a “hold” rating and set a $82.00 target price on the stock in a research report on Wednesday, August 28th. Sanford C. Bernstein started coverage on Moderna in a research report on Thursday, October 17th. They set a “market perform” rating and a $55.00 target price on the stock. Jefferies Financial Group cut their target price on Moderna from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday, October 15th. Finally, Leerink Partners cut their target price on Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.00.

Moderna Trading Down 2.8 %

NASDAQ MRNA opened at $51.81 on Monday. The business’s 50-day moving average price is $63.00 and its two-hundred day moving average price is $99.97. Moderna has a 12 month low of $49.60 and a 12 month high of $170.47. The firm has a market capitalization of $19.92 billion, a PE ratio of -3.37 and a beta of 1.69. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05.

Insider Transactions at Moderna

In other news, CFO James M. Mock sold 715 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO James M. Mock sold 1,321 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James M. Mock sold 715 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,184 shares of company stock valued at $238,531 over the last ninety days. 15.20% of the stock is currently owned by insiders.

Institutional Trading of Moderna

A number of institutional investors and hedge funds have recently modified their holdings of MRNA. Janney Montgomery Scott LLC increased its position in Moderna by 38.6% in the first quarter. Janney Montgomery Scott LLC now owns 14,373 shares of the company’s stock worth $1,532,000 after buying an additional 4,003 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Moderna in the first quarter worth $121,000. Nordea Investment Management AB increased its position in Moderna by 0.4% in the first quarter. Nordea Investment Management AB now owns 31,354 shares of the company’s stock worth $3,372,000 after buying an additional 123 shares during the last quarter. Proficio Capital Partners LLC increased its position in Moderna by 11.1% in the first quarter. Proficio Capital Partners LLC now owns 3,770 shares of the company’s stock worth $402,000 after buying an additional 376 shares during the last quarter. Finally, Wellington Shields Capital Management LLC increased its position in Moderna by 80,000.0% in the first quarter. Wellington Shields Capital Management LLC now owns 1,602 shares of the company’s stock worth $171,000 after buying an additional 1,600 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other 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.