Moderna (NASDAQ:MRNA) Price Target Cut to $75.00

Moderna (NASDAQ:MRNA) had its target price cut by equities research analysts at Royal Bank of Canada from $90.00 to $75.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 9.84% from the stock’s current price.

Several other equities research analysts have also recently commented on MRNA. JPMorgan Chase & Co. cut shares of Moderna from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $88.00 to $70.00 in a research report on Friday. Oppenheimer cut Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday. William Blair reaffirmed a “market perform” rating on shares of Moderna in a research report on Thursday, June 27th. Hsbc Global Res raised Moderna from a “moderate sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Moderna in a report on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $108.53.

Moderna Stock Down 2.0 %

MRNA stock opened at $68.28 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. The stock has a market capitalization of $26.17 billion, a P/E ratio of -4.36 and a beta of 1.67. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $170.47. The business has a 50-day moving average of $95.06 and a 200-day moving average of $111.79.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The firm had revenue of $241.00 million during the quarter, compared to the consensus estimate of $128.41 million. During the same quarter in the prior year, the firm posted ($3.62) EPS. The business’s revenue was down 29.9% on a year-over-year basis. On average, sell-side analysts anticipate that Moderna will post -9.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Moderna news, President Stephen Hoge sold 15,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.16, for a total value of $2,072,400.00. Following the transaction, the president now directly owns 1,457,089 shares of the company’s stock, valued at approximately $201,311,416.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President Stephen Hoge sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $138.16, for a total value of $2,072,400.00. Following the transaction, the president now owns 1,457,089 shares of the company’s stock, valued at $201,311,416.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James M. Mock sold 689 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $118.24, for a total value of $81,467.36. Following the transaction, the chief financial officer now owns 7,269 shares in the company, valued at approximately $859,486.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,158 shares of company stock valued at $13,239,712. Company insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On Moderna

A number of institutional investors have recently modified their holdings of MRNA. Sanctuary Advisors LLC bought a new stake in Moderna in the 2nd quarter valued at about $3,140,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Moderna by 4.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 283,909 shares of the company’s stock valued at $33,714,000 after buying an additional 11,828 shares during the period. Ariadne Wealth Management LP bought a new stake in shares of Moderna in the second quarter valued at approximately $2,372,000. Granite Bay Wealth Management LLC acquired a new stake in Moderna during the second quarter worth approximately $524,000. Finally, Truist Financial Corp increased its stake in Moderna by 7.3% during the 2nd quarter. Truist Financial Corp now owns 18,657 shares of the company’s stock worth $2,216,000 after acquiring an additional 1,275 shares during the period. 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.