Moderna, Inc. (NASDAQ:MRNA – Get Free Report) shares shot up 7% on Tuesday . The company traded as high as $74.09 and last traded at $74.00. 2,216,903 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,228,154 shares. The stock had previously closed at $69.17.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on MRNA. Barclays reduced their price target on shares of Moderna from $155.00 to $125.00 and set an “overweight” rating for the company in a report on Monday. Piper Sandler lowered their target price on Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research report on Friday. William Blair reissued a “market perform” rating on shares of Moderna in a research report on Thursday, June 27th. Finally, Hsbc Global Res upgraded Moderna from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Moderna currently has an average rating of “Hold” and a consensus price target of $100.44.
Moderna Price Performance
The company has a 50 day moving average price of $94.12 and a 200 day moving average price of $111.72. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $27.59 billion, a P/E ratio of -4.65 and a beta of 1.67.
Moderna (NASDAQ:MRNA – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.47) by $0.14. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The firm had revenue of $241.00 million during the quarter, compared to the consensus estimate of $128.41 million. During the same period last year, the business posted ($3.62) earnings per share. The business’s revenue for the quarter was down 29.9% compared to the same quarter last year. On average, equities analysts predict that Moderna, Inc. will post -9.52 EPS for the current fiscal year.
Insider Activity
In other Moderna news, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $127.22, for a total value of $1,908,300.00. Following the completion of the sale, the director now owns 2,284,015 shares in the company, valued at approximately $290,572,388.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $127.22, for a total transaction of $1,908,300.00. Following the sale, the director now directly owns 2,284,015 shares of the company’s stock, valued at approximately $290,572,388.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,158 shares of company stock valued at $11,167,312. 15.70% of the stock is owned by company insiders.
Institutional Trading of Moderna
Several large investors have recently made changes to their positions in MRNA. Vanguard Group Inc. lifted its stake in Moderna by 22.6% during the fourth quarter. Vanguard Group Inc. now owns 33,907,072 shares of the company’s stock worth $3,372,058,000 after purchasing an additional 6,248,623 shares during the last quarter. Norges Bank acquired a new position in shares of Moderna during the 4th quarter worth $347,565,000. Wellington Management Group LLP lifted its position in shares of Moderna by 28.8% during the 4th quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock worth $718,584,000 after buying an additional 1,614,460 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Moderna by 42.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,545,829 shares of the company’s stock valued at $164,724,000 after buying an additional 463,960 shares in the last quarter. Finally, Matrix Capital Management Company LP bought a new position in Moderna in the fourth quarter valued at about $45,150,000. Institutional investors and hedge funds 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.