Moderna (NASDAQ:MRNA) Price Target Cut to $33.00 by Analysts at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its price target cut by JPMorgan Chase & Co. from $40.00 to $33.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an underweight rating on the stock.

MRNA has been the subject of a number of other research reports. Evercore ISI set a $50.00 price target on shares of Moderna in a research note on Friday, February 14th. UBS Group decreased their price target on shares of Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Leerink Partners decreased their price target on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group lowered shares of Moderna from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $99.00 to $51.00 in a research note on Wednesday, January 29th. Finally, Berenberg Bank upped their target price on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Moderna currently has a consensus rating of “Hold” and an average price target of $59.00.

Moderna Trading Up 0.6 %

Shares of MRNA stock opened at $32.66 on Friday. The firm has a market capitalization of $12.60 billion, a PE ratio of -3.52 and a beta of 1.86. The firm has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $46.05. Moderna has a 12 month low of $29.25 and a 12 month high of $170.47.

Institutional Investors Weigh In On Moderna

Several institutional investors have recently added to or reduced their stakes in MRNA. Wilmington Savings Fund Society FSB lifted its holdings in Moderna by 295.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after purchasing an additional 587 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in Moderna during the fourth quarter valued at about $37,000. Venturi Wealth Management LLC lifted its holdings in Moderna by 286.2% during the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after purchasing an additional 664 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in Moderna during the fourth quarter valued at about $41,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Moderna by 51.2% during the fourth 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 last quarter. 75.33% of the stock is owned by hedge funds and other 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.