JPMorgan Chase & Co. Cuts Moderna (NASDAQ:MRNA) Price Target to $45.00

Moderna (NASDAQ:MRNA) had its price target decreased by JPMorgan Chase & Co. from $59.00 to $45.00 in a research report report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

MRNA has been the subject of a number of other research reports. Jefferies Financial Group cut their price target on Moderna from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded Moderna from a “sell” rating to a “hold” rating and cut their target price for the stock from $85.00 to $80.00 in a research report on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on Moderna in a report on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of Moderna from $178.00 to $139.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Moderna in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.26.

Moderna Stock Performance

The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $52.83 and its 200-day moving average is $91.94. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of -7.46 and a beta of 1.69. Moderna has a fifty-two week low of $35.80 and a fifty-two week high of $170.47.

Moderna (NASDAQ:MRNA) last released its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted ($1.39) EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Moderna will post -9.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James M. Mock sold 715 shares of Moderna stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total transaction of $42,985.80. Following the completion of the transaction, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. The trade was a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,147 shares of company stock valued at $76,245 over the last three months. 15.70% of the stock is owned by company insiders.

Institutional Trading of Moderna

Several institutional investors have recently added to or reduced their stakes in MRNA. Intrinsic Value Partners LLC raised its holdings in shares of Moderna by 91.1% in the third quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock worth $3,435,000 after buying an additional 24,505 shares during the period. Banco Santander S.A. purchased a new position in Moderna during the 3rd quarter valued at $3,550,000. John G Ullman & Associates Inc. grew its position in Moderna by 341.3% in the 3rd quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock valued at $3,318,000 after acquiring an additional 38,400 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Moderna by 11.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after purchasing an additional 167,596 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in shares of Moderna by 148.2% during the third quarter. Vontobel Holding Ltd. now owns 116,088 shares of the company’s stock worth $7,758,000 after purchasing an additional 69,313 shares during the last quarter. Institutional investors 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.