Corebridge Financial Inc. Sells 28,775 Shares of Moderna, Inc. (NASDAQ:MRNA)

Corebridge Financial Inc. reduced its position in Moderna, Inc. (NASDAQ:MRNA) by 24.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,706 shares of the company’s stock after selling 28,775 shares during the period. Corebridge Financial Inc.’s holdings in Moderna were worth $3,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after acquiring an additional 1,823,276 shares during the last quarter. Wellington Management Group LLP raised its stake in Moderna by 21.0% during the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after purchasing an additional 906,114 shares in the last quarter. Amundi lifted its position in Moderna by 79.8% during the fourth quarter. Amundi now owns 1,206,273 shares of the company’s stock valued at $52,075,000 after purchasing an additional 535,273 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Moderna in the 3rd quarter worth $23,825,000. Finally, Douglas Lane & Associates LLC increased its holdings in shares of Moderna by 62.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 773,804 shares of the company’s stock worth $32,175,000 after buying an additional 298,715 shares during the last quarter. 75.33% of the stock is owned by institutional investors.

Moderna Price Performance

Shares of MRNA stock opened at $31.12 on Monday. The stock’s 50-day moving average is $34.72 and its 200 day moving average is $44.13. Moderna, Inc. has a 1-year low of $29.25 and a 1-year high of $170.47. The company has a market cap of $12.03 billion, a P/E ratio of -3.35 and a beta of 1.86.

Analyst Ratings Changes

Several research firms recently commented on MRNA. Barclays lowered Moderna from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $111.00 to $45.00 in a research report on Tuesday, February 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. Bank of America lowered their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Leerink Partners cut their price objective on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lowered shares of Moderna from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Moderna has a consensus rating of “Hold” and an average price target of $59.00.

About Moderna

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.