Bank of New York Mellon Corp Sells 35,228 Shares of Moderna, Inc. (NASDAQ:MRNA)

Bank of New York Mellon Corp decreased its holdings in Moderna, Inc. (NASDAQ:MRNA) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,270,748 shares of the company’s stock after selling 35,228 shares during the period. Bank of New York Mellon Corp’s holdings in Moderna were worth $269,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ogorek Anthony Joseph NY ADV purchased a new stake in Moderna during the 4th quarter valued at approximately $27,000. Cedar Wealth Management LLC grew its stake in Moderna by 45.0% during the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after acquiring an additional 90 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Moderna in the 1st quarter valued at $32,000. Family Firm Inc. bought a new stake in Moderna in the 2nd quarter valued at $33,000. Finally, Rise Advisors LLC lifted its stake in Moderna by 953.3% in the 1st quarter. Rise Advisors LLC now owns 316 shares of the company’s stock worth $34,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 75.33% of the company’s stock.

Moderna Price Performance

MRNA stock opened at $81.66 on Tuesday. The company has a current ratio of 4.09, a quick ratio of 3.91 and a debt-to-equity ratio of 0.05. Moderna, Inc. has a 12 month low of $62.55 and a 12 month high of $170.47. The stock has a market cap of $31.30 billion, a PE ratio of -5.21 and a beta of 1.67. The company has a 50-day moving average price of $109.06 and a 200 day moving average price of $113.43.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The business had revenue of $241.00 million during the quarter, compared to analyst estimates of $128.41 million. During the same quarter in the previous year, the business earned ($3.62) earnings per share. The company’s revenue for the quarter was down 29.9% compared to the same quarter last year. Equities research analysts anticipate that Moderna, Inc. will post -7.46 earnings per share for the current year.

Insider Activity at Moderna

In other news, President Stephen Hoge sold 341 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $144.50, for a total value of $49,274.50. Following the transaction, the president now directly owns 1,471,777 shares in the company, valued at $212,671,776.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.96, for a total transaction of $1,799,400.00. Following the transaction, the director now directly owns 2,224,015 shares in the company, valued at approximately $266,792,839.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Hoge sold 341 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $144.50, for a total value of $49,274.50. Following the completion of the sale, the president now owns 1,471,777 shares of the company’s stock, valued at $212,671,776.50. The disclosure for this sale can be found here. Insiders sold a total of 349,294 shares of company stock worth $49,140,062 in the last quarter. 15.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MRNA. Piper Sandler reaffirmed an “overweight” rating and issued a $157.00 target price (down from $214.00) on shares of Moderna in a report on Friday, August 2nd. Evercore ISI reaffirmed an “in-line” rating and issued a $120.00 price objective on shares of Moderna in a research note on Thursday, June 27th. William Blair reaffirmed a “market perform” rating on shares of Moderna in a report on Thursday, June 27th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Moderna from a “sell” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $124.07.

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.