Moderna (NASDAQ:MRNA) Coverage Initiated by Analysts at Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of Moderna (NASDAQ:MRNA) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set an “underperform” rating and a $40.00 price target on the stock. Wolfe Research’s price target suggests a potential upside of 0.58% from the stock’s current price.

A number of other analysts also recently issued reports on the company. UBS Group decreased their price target on Moderna from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Moderna from a “sell” rating to a “hold” rating and decreased their target price for the stock from $85.00 to $80.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Moderna from $70.00 to $59.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Moderna in a research report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $75.00 target price on shares of Moderna in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.22.

Moderna Stock Performance

Shares of Moderna stock opened at $39.77 on Friday. The business has a 50-day simple moving average of $59.96 and a 200-day simple moving average of $97.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. Moderna has a one year low of $38.76 and a one year high of $170.47. The company has a market cap of $15.30 billion, a PE ratio of -6.83 and a beta of 1.69.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($1.89) by $1.92. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted ($1.39) EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Moderna will post -9.43 EPS for the current fiscal year.

Insider Activity at Moderna

In other news, CFO James M. Mock sold 715 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the transaction, the chief financial officer now owns 9,505 shares in the company, valued at $571,440.60. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,930 shares of company stock worth $217,170 over the last three months. 15.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Moderna

A number of institutional investors have recently added to or reduced their stakes in MRNA. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Moderna during the 2nd quarter valued at approximately $26,000. Family Firm Inc. acquired a new position in Moderna during the second quarter worth $33,000. Cedar Wealth Management LLC boosted its position in Moderna by 45.0% during the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after purchasing an additional 90 shares in the last quarter. Bank & Trust Co acquired a new stake in Moderna in the second quarter valued at $36,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Moderna in the second quarter valued at $48,000. Hedge funds and other institutional investors 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.