Cornerstone Advisors LLC Sells 8,200 Shares of Moderna, Inc. (NASDAQ:MRNA)

Cornerstone Advisors LLC lessened its stake in Moderna, Inc. (NASDAQ:MRNA) by 89.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the company’s stock after selling 8,200 shares during the period. Cornerstone Advisors LLC’s holdings in Moderna were worth $119,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Moderna during the second quarter worth $26,000. Ogorek Anthony Joseph NY ADV bought a new stake in Moderna during the 4th quarter worth about $27,000. Family Firm Inc. acquired a new position in Moderna during the 2nd quarter valued at about $33,000. Cedar Wealth Management LLC boosted its stake in shares of Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after purchasing an additional 90 shares during the last quarter. Finally, Westside Investment Management Inc. acquired a new stake in shares of Moderna during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

Insider Buying and Selling at Moderna

In other news, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the sale, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $117.08, for a total transaction of $1,756,200.00. Following the sale, the director now directly owns 2,269,015 shares of the company’s stock, valued at approximately $265,656,276.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Mock sold 1,321 shares of the firm’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 owns 8,600 shares of the company’s stock, valued at approximately $682,754. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,158 shares of company stock worth $11,167,312. Corporate insiders own 15.70% of the company’s stock.

Moderna Trading Up 4.1 %

MRNA opened at $71.99 on Wednesday. The stock has a market capitalization of $27.59 billion, a P/E ratio of -4.59 and a beta of 1.67. 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, Inc. has a 12 month low of $62.55 and a 12 month high of $170.47. The firm’s fifty day simple moving average is $93.23 and its 200 day simple moving average is $111.56.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) EPS for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. The company had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The company’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.62) earnings per share. As a group, research analysts anticipate that Moderna, Inc. will post -9.52 EPS for the current fiscal year.

Analysts Set New Price Targets

MRNA has been the topic of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Moderna in a report on Friday, September 13th. Jefferies Financial Group downgraded Moderna from a “buy” rating to a “hold” rating and cut their price target for the company from $120.00 to $65.00 in a research note on Friday, September 13th. Barclays reduced their price target on Moderna from $155.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday. William Blair reiterated a “market perform” rating on shares of Moderna in a report on Thursday, June 27th. Finally, Bank of America reduced their target price on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.44.

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.