Moderna, Inc. (NASDAQ:MRNA – Get Rating)’s share price dropped 6% on Monday after an insider sold shares in the company. The company traded as low as $166.66 and last traded at $166.76. Approximately 74,353 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 6,020,542 shares. The stock had previously closed at $177.35.Specifically, insider Juan Andres sold 4,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $150.00, for a total value of $600,000.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,734,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Juan Andres sold 4,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $150.00, for a total value of $600,000.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,734,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Stephen Hoge sold 1,085 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $173.80, for a total transaction of $188,573.00. Following the completion of the sale, the president now directly owns 1,627,416 shares of the company’s stock, valued at $282,844,900.80. The disclosure for this sale can be found here. Insiders sold a total of 541,899 shares of company stock valued at $77,505,786 over the last ninety days. Insiders own 17.30% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on MRNA. Bank of America increased their price objective on shares of Moderna from $160.00 to $182.00 in a research report on Tuesday, November 15th. Morgan Stanley lowered their price target on shares of Moderna from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Argus reduced their price objective on shares of Moderna from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 14th. Cowen reduced their price objective on shares of Moderna from $165.00 to $145.00 in a research note on Thursday, October 20th. Finally, SVB Leerink upgraded shares of Moderna from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $174.00 to $101.00 in a research note on Friday, October 21st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $176.93.
Moderna Stock Performance
The stock has a market capitalization of $64.00 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.27 and a beta of 1.74. The company’s 50-day moving average is $155.64 and its two-hundred day moving average is $150.32. The company has a current ratio of 2.10, a quick ratio of 1.80 and a debt-to-equity ratio of 0.05.
Moderna (NASDAQ:MRNA – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.51). The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.33 billion. Moderna had a net margin of 55.00% and a return on equity of 70.03%. As a group, sell-side analysts anticipate that Moderna, Inc. will post 21.48 EPS for the current fiscal year.
Hedge Funds Weigh In On Moderna
Several large investors have recently bought and sold shares of MRNA. Price T Rowe Associates Inc. MD increased its stake in Moderna by 89.9% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 6,443,409 shares of the company’s stock valued at $761,934,000 after buying an additional 3,051,035 shares during the period. Coatue Management LLC increased its stake in Moderna by 61.6% during the 1st quarter. Coatue Management LLC now owns 6,928,147 shares of the company’s stock valued at $1,193,443,000 after buying an additional 2,641,144 shares during the period. Renaissance Technologies LLC increased its stake in Moderna by 108.2% during the 1st 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. Theleme Partners LLP increased its stake in Moderna by 26.2% during the 1st quarter. Theleme Partners LLP now owns 6,336,940 shares of the company’s stock valued at $1,091,601,000 after buying an additional 1,314,766 shares during the period. Finally, BlackRock Inc. increased its stake in Moderna by 3.7% during the 1st quarter. BlackRock Inc. now owns 28,671,935 shares of the company’s stock valued at $4,939,029,000 after buying an additional 1,010,462 shares during the period. Institutional investors and hedge funds own 60.76% 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, cardiovascular diseases, and auto-immune diseases in the United States, Europe, and internationally. Its respiratory vaccines include COVID-19, flu, respiratory syncytial virus, Endemic HCoV, and hMPV+PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, human immunodeficiency virus, herpes simplex virus, and varicella-zoster virus vaccines; and public health vaccines consists of Zika and Nipah vaccines.