Moderna (NASDAQ:MRNA) Given New $33.00 Price Target at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its price objective lowered by analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 1.04% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Citigroup began coverage on shares of Moderna in a research note on Thursday, March 13th. They issued a “neutral” rating and a $40.00 target price for the company. UBS Group reduced their target price on shares of Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group cut shares of Moderna from a “buy” rating to a “neutral” rating and reduced their target price for the company from $99.00 to $51.00 in a research note on Wednesday, January 29th. Finally, Barclays cut shares of Moderna from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $111.00 to $45.00 in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Moderna has a consensus rating of “Hold” and a consensus price target of $59.00.

Moderna Stock Up 0.6 %

NASDAQ MRNA opened at $32.66 on Friday. The stock has a market capitalization of $12.60 billion, a PE ratio of -3.52 and a beta of 1.86. The company has a 50 day moving average price of $34.91 and a two-hundred day moving average price of $45.86. Moderna has a 12-month low of $29.25 and a 12-month high of $170.47.

Institutional Investors Weigh In On Moderna

Several institutional investors and hedge funds have recently bought and sold shares of MRNA. Norges Bank bought a new stake in Moderna in the 4th quarter valued at $163,833,000. Voloridge Investment Management LLC increased its holdings in Moderna by 335.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock valued at $107,727,000 after buying an additional 1,996,003 shares during the period. State Street Corp increased its holdings in Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after buying an additional 1,823,276 shares during the period. FMR LLC increased its holdings in Moderna by 7.4% in the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after buying an additional 1,282,469 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in Moderna by 170.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock valued at $73,447,000 after buying an additional 1,113,455 shares during the period. 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.