Moderna (NASDAQ:MRNA – Get Free Report) had its price target reduced by JPMorgan Chase & Co. from $93.00 to $90.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.92% from the company’s current price.
A number of other analysts have also recently commented on the stock. Royal Bank of Canada cut their price target on shares of Moderna from $180.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Jefferies Financial Group dropped their price objective on shares of Moderna from $275.00 to $175.00 in a research report on Friday, August 4th. Argus dropped their price objective on shares of Moderna from $160.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Bank of America dropped their price objective on shares of Moderna from $175.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, August 4th. Finally, TD Cowen lowered shares of Moderna from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $145.00 to $125.00 in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Moderna presently has an average rating of “Hold” and an average target price of $133.70.
Get Our Latest Research Report on MRNA
Moderna Stock Up 1.7 %
Shares of Moderna stock traded up $1.30 on Friday, hitting $79.00. The company had a trading volume of 2,805,859 shares, compared to its average volume of 3,707,886. Moderna has a twelve month low of $62.55 and a twelve month high of $217.25. The stock has a 50-day moving average of $84.88 and a 200-day moving average of $106.36. The firm has a market capitalization of $30.12 billion, a P/E ratio of -8.45 and a beta of 1.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.35.
Moderna (NASDAQ:MRNA – Get Free Report) last announced its earnings results on Thursday, November 2nd. The company reported ($1.39) EPS for the quarter, topping the consensus estimate of ($2.01) by $0.62. Moderna had a negative net margin of 38.00% and a negative return on equity of 2.14%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Research analysts predict that Moderna will post -5.94 earnings per share for the current year.
Insider Transactions at Moderna
In other news, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $107.61, for a total value of $1,614,150.00. Following the completion of the sale, the director now owns 1,982,209 shares in the company, valued at approximately $213,305,510.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $107.61, for a total transaction of $1,614,150.00. Following the transaction, the director now directly owns 1,982,209 shares of the company’s stock, valued at approximately $213,305,510.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shannon Thyme Klinger sold 557 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $107.22, for a total transaction of $59,721.54. Following the completion of the transaction, the insider now directly owns 7,215 shares in the company, valued at $773,592.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,530 shares of company stock worth $12,500,882. Company insiders own 15.70% of the company’s stock.
Institutional Investors Weigh In On Moderna
Several institutional investors have recently added to or reduced their stakes in MRNA. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Moderna by 98,101.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 142,396,614 shares of the company’s stock valued at $17,301,189,000 after purchasing an additional 142,251,609 shares during the last quarter. Norges Bank bought a new stake in shares of Moderna during the fourth quarter valued at about $628,359,000. Renaissance Technologies LLC increased its position in shares of Moderna by 108.2% during the first quarter. Renaissance Technologies LLC now owns 3,818,180 shares of the company’s stock valued at $657,720,000 after buying an additional 1,984,458 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Moderna by 77.3% during the third quarter. The Manufacturers Life Insurance Company now owns 3,876,147 shares of the company’s stock valued at $400,367,000 after buying an additional 1,690,341 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Moderna by 699.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,538,506 shares of the company’s stock valued at $26,205,000 after buying an additional 1,346,028 shares during the period. 64.51% 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, 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; and public health vaccines consists of Zika and Nipah vaccines.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Moderna, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Moderna wasn’t on the list.
While Moderna currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering when you’ll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Source: marketbeat.com
