Moderna (NASDAQ:MRNA) Shares Gap Down Following Analyst Downgrade

Shares of Moderna, Inc. (NASDAQ:MRNAGet Free Report) gapped down before the market opened on Wednesday after The Goldman Sachs Group downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $44.94, but opened at $43.28. The Goldman Sachs Group now has a $51.00 price target on the stock, down from their previous price target of $99.00. Moderna shares last traded at $44.10, with a volume of 2,069,840 shares trading hands.

A number of other equities research analysts have also issued reports on MRNA. Leerink Partners cut their price target on Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. UBS Group cut their target price on Moderna from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wolfe Research assumed coverage on Moderna in a report on Friday, November 15th. They issued an “underperform” rating and a $40.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Moderna in a research report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price objective on the stock. Finally, Berenberg Bank raised their target price on shares of Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.26.

View Our Latest Stock Report on Moderna

Insiders Place Their Bets

In other news, insider Shannon Thyme Klinger sold 1,418 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the sale, the insider now owns 19,717 shares in the company, valued at $843,690.43. This represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 2,664 shares of company stock valued at $115,210. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Moderna

Several institutional investors and hedge funds have recently modified their holdings of the stock. Axiom Advisory LLC boosted its holdings in Moderna by 1.6% during the third quarter. Axiom Advisory LLC now owns 12,672 shares of the company’s stock worth $847,000 after buying an additional 198 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Moderna by 2.2% during the third quarter. Arkadios Wealth Advisors now owns 11,429 shares of the company’s stock valued at $764,000 after purchasing an additional 243 shares in the last quarter. Knuff & Co LLC grew its position in shares of Moderna by 5.4% in the third quarter. Knuff & Co LLC now owns 4,732 shares of the company’s stock valued at $316,000 after purchasing an additional 244 shares during the period. Stephens Inc. AR increased its stake in shares of Moderna by 7.9% during the third quarter. Stephens Inc. AR now owns 3,334 shares of the company’s stock worth $223,000 after purchasing an additional 245 shares in the last quarter. Finally, Mather Group LLC. raised its position in shares of Moderna by 25.7% during the 3rd quarter. Mather Group LLC. now owns 1,281 shares of the company’s stock worth $86,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. The stock has a market capitalization of $15.79 billion, a PE ratio of -7.05 and a beta of 1.60. The stock’s 50 day moving average is $40.87 and its two-hundred day moving average is $62.03.

Moderna (NASDAQ:MRNAGet Free Report) last announced 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 return on equity of 17.68% and a negative net margin of 43.77%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted ($1.39) EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Moderna, Inc. will post -9.27 EPS for the current fiscal year.

About Moderna

(Get Free Report)

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.

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