NEOS Investment Management LLC Trims Position in Moderna, Inc. (NASDAQ:MRNA)

NEOS Investment Management LLC cut its stake in shares of Moderna, Inc. (NASDAQ:MRNA) by 40.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,765 shares of the company’s stock after selling 17,143 shares during the period. NEOS Investment Management LLC’s holdings in Moderna were worth $1,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRNA. State Street Corp increased its holdings in Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after acquiring an additional 1,823,276 shares during the period. Wellington Management Group LLP grew its position in shares of Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after purchasing an additional 906,114 shares in the last quarter. Amundi increased its holdings in shares of Moderna by 79.8% in the fourth quarter. Amundi now owns 1,206,273 shares of the company’s stock worth $52,075,000 after purchasing an additional 535,273 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Moderna in the third quarter worth $23,825,000. Finally, Douglas Lane & Associates LLC boosted its stake in Moderna by 62.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 773,804 shares of the company’s stock valued at $32,175,000 after buying an additional 298,715 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MRNA shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price target on shares of Moderna in a report on Tuesday, February 18th. Citigroup initiated coverage on shares of Moderna in a research note on Thursday, March 13th. They issued a “neutral” rating and a $40.00 target price on the stock. Morgan Stanley decreased their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Leerink Partners dropped their price objective on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Finally, UBS Group reduced their target price on Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.00.

Moderna Stock Performance

Shares of Moderna stock opened at $31.12 on Friday. Moderna, Inc. has a 52-week low of $29.25 and a 52-week high of $170.47. The company’s 50 day moving average price is $34.72 and its 200-day moving average price is $44.38. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of -3.35 and a beta of 1.86.

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.