Eastern Bank Acquires 334 Shares of Moderna, Inc. (NASDAQ:MRNA)

Eastern Bank grew its stake in Moderna, Inc. (NASDAQ:MRNA) by 2.3% in the third quarter, HoldingsChannel reports. The fund owned 14,578 shares of the company’s stock after acquiring an additional 334 shares during the period. Eastern Bank’s holdings in Moderna were worth $974,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MRNA. Ashton Thomas Private Wealth LLC acquired a new position in Moderna during the 2nd quarter valued at about $26,000. Cedar Wealth Management LLC grew its holdings in shares of Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after buying an additional 90 shares during the period. Westside Investment Management Inc. bought a new position in shares of Moderna during the 1st quarter valued at about $32,000. Family Firm Inc. acquired a new stake in shares of Moderna during the second quarter worth $33,000. Finally, Bank & Trust Co bought a new stake in shares of Moderna in the second quarter valued at about $36,000. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO James M. Mock sold 715 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total transaction of $42,985.80. Following the transaction, the chief financial officer now owns 9,505 shares of the company’s stock, valued at $571,440.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO James M. Mock sold 715 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the completion of the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James M. Mock sold 1,321 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,184 shares of company stock valued at $2,037,931 over the last 90 days. Company insiders own 15.70% of the company’s stock.

Analyst Upgrades and Downgrades

MRNA has been the subject of several recent analyst reports. HSBC raised Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price objective for the company in a report on Wednesday, August 28th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research note on Friday, September 13th. William Blair reiterated a “market perform” rating on shares of Moderna in a report on Thursday, June 27th. Oppenheimer lowered shares of Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday, September 13th. Finally, TD Cowen decreased their price target on shares of Moderna from $70.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Moderna presently has an average rating of “Hold” and an average price target of $97.18.

Moderna Price Performance

Shares of MRNA stock opened at $53.40 on Wednesday. The business has a fifty day simple moving average of $69.61 and a 200 day simple moving average of $103.90. Moderna, Inc. has a twelve month low of $52.81 and a twelve month high of $170.47. The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.05. The company has a market cap of $20.47 billion, a P/E ratio of -3.41 and a beta of 1.66.

Moderna (NASDAQ:MRNA) last announced its quarterly 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 net margin of 116.18% and a negative return on equity of 21.35%. The firm had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $128.41 million. During the same period in the prior year, the company posted ($3.62) EPS. The company’s revenue was down 29.9% on a year-over-year basis. On average, sell-side analysts forecast that Moderna, Inc. will post -9.85 EPS for the current fiscal year.

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.