Moderna (NASDAQ:MRNA) Now Covered by Wolfe Research

Wolfe Research began coverage on shares of Moderna (NASDAQ:MRNA) in a research note published on Friday morning, MarketBeat.com reports. The firm issued an underperform rating and a $40.00 price objective on the stock.

MRNA has been the subject of several other reports. Leerink Partners reduced their price objective on Moderna from $60.00 to $48.00 and set an “underperform” rating for the company in a research note on Tuesday, September 17th. Piper Sandler cut their price target on shares of Moderna from $157.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised Moderna from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Moderna from $70.00 to $59.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, TD Cowen dropped their price objective on shares of Moderna from $70.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.33.

Moderna Price Performance

Shares of NASDAQ:MRNA opened at $39.51 on Friday. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $58.56 and its two-hundred day moving average is $96.68. The firm has a market capitalization of $15.20 billion, a P/E ratio of -6.79 and a beta of 1.69. Moderna has a 52 week low of $35.80 and a 52 week high of $170.47.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.89) by $1.92. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business earned ($1.39) earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Moderna will post -9.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO James M. Mock sold 715 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at $571,440.60. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 2,930 shares of company stock valued at $217,170. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Moderna

A number of hedge funds have recently modified their holdings of MRNA. Cedar Wealth Management LLC lifted its position in 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 acquiring an additional 90 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Moderna by 1.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock worth $660,000 after acquiring an additional 93 shares during the last quarter. CVA Family Office LLC grew its stake in shares of Moderna by 21.6% during the 2nd quarter. CVA Family Office LLC now owns 541 shares of the company’s stock worth $64,000 after acquiring an additional 96 shares in the last quarter. Claro Advisors LLC boosted its holdings in Moderna by 2.0% during the second quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock worth $659,000 after purchasing an additional 108 shares during the last quarter. Finally, McAdam LLC lifted its position in Moderna by 1.1% during the 2nd quarter. McAdam LLC now owns 11,075 shares of the company’s stock worth $1,315,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.