UBS Group Cuts Moderna (NASDAQ:MRNA) Price Target to $78.00

Moderna (NASDAQ:MRNA) had its price target lowered by UBS Group from $96.00 to $78.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler reissued an “overweight” rating and issued a $69.00 price target (down from $115.00) on shares of Moderna in a research note on Monday, November 18th. Argus downgraded shares of Moderna from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley decreased their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Barclays downgraded shares of Moderna from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $111.00 to $45.00 in a research note on Tuesday. Finally, HSBC raised shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.63.

Moderna Price Performance

MRNA stock opened at $35.53 on Wednesday. Moderna has a 1 year low of $29.25 and a 1 year high of $170.47. The company has a market cap of $13.67 billion, a P/E ratio of -3.83 and a beta of 1.59. The firm has a 50-day moving average of $38.17 and a 200 day moving average of $53.20.

Insider Buying and Selling

In other news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the transaction, the insider now owns 19,717 shares in the company, valued at $843,690.43. This trade represents a 6.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 2,664 shares of company stock worth $115,210. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB boosted its stake in shares of Moderna by 295.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after acquiring an additional 587 shares during the last quarter. Compass Planning Associates Inc purchased a new position in shares of Moderna during the 4th quarter worth $37,000. Venturi Wealth Management LLC boosted its stake in shares of Moderna by 286.2% during the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after acquiring an additional 664 shares during the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Moderna during the 4th quarter worth $41,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Moderna by 51.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock valued at $42,000 after purchasing an additional 343 shares during the period. Hedge funds and other 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.