Moderna (NASDAQ:MRNA) Hits New 52-Week Low at $62.20

Moderna, Inc. (NASDAQ:MRNA) hit a new 52-week low during trading on Thursday . The company traded as low as $62.20 and last traded at $62.24, with a volume of 73183 shares changing hands. The stock had previously closed at $63.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MRNA shares. Royal Bank of Canada reissued a “sector perform” rating and set a $75.00 target price on shares of Moderna in a report on Thursday, September 19th. JPMorgan Chase & Co. cut shares of Moderna from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $88.00 to $70.00 in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Moderna from a “sell” rating to a “hold” rating and decreased their target price for the stock from $85.00 to $80.00 in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday, September 13th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $120.00 price target on shares of Moderna in a research note on Thursday, June 27th. Two investment 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $100.44.

Moderna Trading Down 1.6 %

The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.05. The stock has a market cap of $23.82 billion, a P/E ratio of -4.03 and a beta of 1.67. The business’s 50 day simple moving average is $80.88 and its two-hundred day simple moving average is $108.62.

Moderna (NASDAQ:MRNA) last posted its 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. The firm had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The company’s revenue for the quarter was down 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.62) EPS. As a group, analysts expect that Moderna, Inc. will post -9.86 EPS for the current year.

Insider Buying and Selling at Moderna

In other news, President Stephen Hoge sold 15,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $121.12, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Stephen Hoge sold 15,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $121.12, for a total value of $1,816,800.00. Following the transaction, the president now directly owns 1,442,089 shares of the company’s stock, valued at approximately $174,665,819.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James M. Mock sold 1,321 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 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 78,158 shares of company stock worth $9,259,012. Insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in Moderna during the 2nd quarter worth approximately $26,000. Family Firm Inc. acquired a new position in shares of Moderna during the second quarter worth approximately $33,000. Cedar Wealth Management LLC raised its position in shares of Moderna by 45.0% during the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after purchasing an additional 90 shares during the period. Westside Investment Management Inc. bought a new position in shares of Moderna in the 1st quarter worth $32,000. Finally, Bank & Trust Co acquired a new stake in Moderna in the 2nd quarter valued at $36,000. 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.