Moderna (NASDAQ:MRNA) Cut to Market Perform at Oppenheimer

Oppenheimer downgraded shares of Moderna (NASDAQ:MRNA) from an outperform rating to a market perform rating in a research report report published on Friday morning, Marketbeat Ratings reports.

MRNA has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Moderna from $96.00 to $88.00 and set a neutral rating on the stock in a report on Thursday, August 15th. William Blair restated a market perform rating on shares of Moderna in a research note on Thursday, June 27th. Barclays lowered their price objective on shares of Moderna from $168.00 to $155.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC restated a hold rating on shares of Moderna in a research report on Thursday, August 1st. Finally, Evercore ISI reaffirmed an in-line rating and issued a $120.00 target price on shares of Moderna in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $108.53.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $68.28 on Friday. The stock has a market cap of $26.17 billion, a P/E ratio of -4.36 and a beta of 1.67. Moderna has a twelve month low of $62.55 and a twelve month high of $170.47. The stock has a 50 day moving average of $95.06 and a two-hundred day moving average of $111.89. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) EPS for the quarter, beating 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 quarter in the prior year, the firm earned ($3.62) EPS. Moderna’s revenue for the quarter was down 29.9% on a year-over-year basis. On average, research analysts forecast that Moderna will post -9.52 earnings per share for the current year.

Insider Activity at Moderna

In other Moderna news, CFO James M. Mock sold 689 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $118.24, for a total transaction of $81,467.36. Following the sale, the chief financial officer now owns 7,269 shares in the company, valued at approximately $859,486.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO James M. Mock sold 689 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $118.24, for a total value of $81,467.36. Following the completion of the transaction, the chief financial officer now owns 7,269 shares of the company’s stock, valued at $859,486.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Noubar Afeyan sold 15,000 shares of the firm’s stock in a transaction that occurred 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 owns 2,284,015 shares in the company, valued at approximately $290,572,388.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,158 shares of company stock valued at $11,167,312. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MRNA. Cedar Wealth Management LLC grew its position in Moderna by 45.0% in the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after acquiring an additional 90 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Moderna by 1.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock valued at $660,000 after purchasing an additional 93 shares during the period. CVA Family Office LLC grew its holdings in Moderna by 21.6% during the 2nd quarter. CVA Family Office LLC now owns 541 shares of the company’s stock valued at $64,000 after purchasing an additional 96 shares in the last quarter. Claro Advisors LLC increased its stake in Moderna by 2.0% during the 2nd quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock worth $659,000 after buying an additional 108 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Moderna by 32.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock worth $47,000 after buying an additional 116 shares in the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

Moderna Company Profile

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.