Moderna (NASDAQ:MRNA) Price Target Cut to $59.00 by Analysts at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $70.00 to $59.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.71% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Moderna from a “sell” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $80.00 in a report on Wednesday, August 7th. Bank of America lowered their price target on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Sanford C. Bernstein initiated coverage on Moderna in a report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price objective for the company. Hsbc Global Res raised shares of Moderna from a “moderate sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, TD Cowen cut their price target on shares of Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.00.

Moderna Price Performance

NASDAQ:MRNA opened at $53.29 on Monday. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of -3.46 and a beta of 1.69. The company has a 50-day moving average of $63.53 and a 200-day moving average of $100.31. Moderna has a 52 week low of $52.08 and a 52 week high of $170.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.92 and a current ratio of 4.09.

Insiders Place Their Bets

In other news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the transaction, the chief financial officer now owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO James M. Mock sold 1,321 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at $682,754. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James M. Mock sold 715 shares of Moderna stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,184 shares of company stock valued at $238,531. 15.20% of the stock is currently owned by insiders.

Institutional Trading of Moderna

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Moderna by 15.1% in the first quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock worth $4,159,769,000 after purchasing an additional 5,129,800 shares during the period. International Assets Investment Management LLC increased its position in shares of Moderna by 10,687.1% in the 3rd quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock valued at $21,353,000 after buying an additional 316,552 shares in the last quarter. Intech Investment Management LLC raised its stake in Moderna by 1,212.9% during the 1st quarter. Intech Investment Management LLC now owns 330,805 shares of the company’s stock worth $35,251,000 after buying an additional 305,609 shares during the period. Matrix Capital Management Company LP lifted its holdings in Moderna by 60.8% during the first quarter. Matrix Capital Management Company LP now owns 730,000 shares of the company’s stock worth $77,789,000 after acquiring an additional 276,000 shares in the last quarter. Finally, Motley Fool Wealth Management LLC acquired a new position in Moderna in the first quarter valued at about $21,317,000. 75.33% of the stock is owned by institutional investors.

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.