Kayne Anderson Rudnick Investment Management LLC Trims Stock Position in Moderna, Inc. (NASDAQ:MRNA)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in Moderna, Inc. (NASDAQ:MRNA) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,373 shares of the company’s stock after selling 503 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Moderna were worth $2,657,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC acquired a new position in shares of Moderna in the fourth quarter valued at approximately $664,000. Illinois Municipal Retirement Fund raised its position in Moderna by 22.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 51,791 shares of the company’s stock worth $5,519,000 after buying an additional 9,360 shares during the last quarter. Swedbank AB purchased a new position in Moderna during the 1st quarter worth $3,315,000. Wellington Management Group LLP lifted its stake in shares of Moderna by 28.8% in the 4th quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock worth $718,584,000 after acquiring an additional 1,614,460 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Moderna in the first quarter valued at about $2,693,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

Insider Activity at Moderna

In other Moderna news, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the sale, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Hoge sold 15,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $121.12, for a total transaction of $1,816,800.00. Following the sale, the president now directly owns 1,442,089 shares of the company’s stock, valued at approximately $174,665,819.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,158 shares of company stock worth $11,167,312. 15.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Jefferies Financial Group lowered Moderna from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $120.00 to $65.00 in a report on Friday, September 13th. TD Cowen reduced their target price on Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a report on Friday, September 13th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research report on Friday, September 13th. Finally, William Blair reiterated a “market perform” rating on shares of Moderna in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.44.

Moderna Trading Down 3.4 %

Shares of MRNA stock opened at $65.69 on Monday. The firm’s 50-day simple moving average is $90.07 and its 200-day simple moving average is $110.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. Moderna, Inc. has a 1-year low of $62.55 and a 1-year high of $170.47. The firm has a market cap of $25.18 billion, a P/E ratio of -4.19 and a beta of 1.67.

Moderna (NASDAQ:MRNA) last posted 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 net margin of 116.18% and a negative return on equity of 21.35%. The company had revenue of $241.00 million for the quarter, compared to the consensus estimate of $128.41 million. During the same quarter last year, the firm posted ($3.62) earnings per share. Moderna’s revenue was down 29.9% on a year-over-year basis. As a group, equities analysts forecast that Moderna, Inc. will post -9.52 EPS for the current year.

Moderna 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.