Moderna (NASDAQ:MRNA) Given New $38.00 Price Target at Morgan Stanley

Moderna (NASDAQ:MRNA) had its price objective decreased by Morgan Stanley from $70.00 to $38.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $69.00 target price (down from $115.00) on shares of Moderna in a report on Monday, November 18th. Bank of America reaffirmed an “underperform” rating and issued a $41.00 price objective on shares of Moderna in a research note on Tuesday, December 10th. Hsbc Global Res upgraded Moderna from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Sanford C. Bernstein began coverage on shares of Moderna in a report on Thursday, October 17th. They issued a “market perform” rating and a $55.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Moderna from $59.00 to $45.00 and set an “underweight” rating on the stock in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.68.

Moderna Trading Up 0.9 %

NASDAQ MRNA opened at $34.77 on Wednesday. The company has a 50-day moving average price of $41.44 and a 200-day moving average price of $67.56. Moderna has a 52 week low of $31.94 and a 52 week high of $170.47. The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($1.89) by $1.92. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.39) earnings per share. As a group, analysts predict that Moderna will post -9.3 EPS for the current year.

Insider Buying and Selling

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the sale, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 2,664 shares of company stock worth $115,210. Corporate insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after acquiring an additional 1,823,276 shares during the last quarter. Geode Capital Management LLC raised its position in Moderna by 2.6% during the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock valued at $470,670,000 after purchasing an additional 178,115 shares during the period. Wellington Management Group LLP lifted its stake in shares of Moderna by 21.0% in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Moderna by 0.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company’s stock worth $260,023,000 after purchasing an additional 19,819 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Moderna by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,073,934 shares of the company’s stock valued at $205,431,000 after purchasing an additional 178,939 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.