Brokerages Set Moderna, Inc. (NASDAQ:MRNA) Target Price at $60.63

Shares of Moderna, Inc. (NASDAQ:MRNA) have been given an average rating of “Hold” by the twenty-three research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.63.

A number of research firms have issued reports on MRNA. Morgan Stanley cut their target price on Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. JPMorgan Chase & Co. set a $45.00 price target on Moderna in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Finally, Barclays lowered Moderna from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $111.00 to $45.00 in a research note on Tuesday, February 18th.

Moderna Stock Down 0.4 %

Shares of MRNA stock opened at $30.96 on Wednesday. The company has a market cap of $11.91 billion, a P/E ratio of -3.34 and a beta of 1.59. The business has a 50 day moving average of $37.47 and a two-hundred day moving average of $51.47. Moderna has a 52 week low of $29.25 and a 52 week high of $170.47.

Institutional Trading of Moderna

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in Moderna by 365.6% in the 3rd quarter. Blue Trust Inc. now owns 731 shares of the company’s stock worth $49,000 after acquiring an additional 574 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after purchasing an additional 587 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Moderna by 286.2% in the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after purchasing an additional 664 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in shares of Moderna during the fourth quarter worth approximately $37,000. Finally, Larson Financial Group LLC grew its position in Moderna by 53.5% during the third quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock valued at $61,000 after purchasing an additional 317 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.