Huntington National Bank Sells 588 Shares of Moderna, Inc. (NASDAQ:MRNA)

Huntington National Bank reduced its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 32.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,204 shares of the company’s stock after selling 588 shares during the quarter. Huntington National Bank’s holdings in Moderna were worth $80,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Intrinsic Value Partners LLC increased its position in shares of Moderna by 91.1% during the third quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock valued at $3,435,000 after acquiring an additional 24,505 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Moderna by 11.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after purchasing an additional 167,596 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Moderna by 148.2% in the third quarter. Vontobel Holding Ltd. now owns 116,088 shares of the company’s stock worth $7,758,000 after purchasing an additional 69,313 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Moderna by 20.9% during the second quarter. Profund Advisors LLC now owns 56,218 shares of the company’s stock valued at $6,676,000 after purchasing an additional 9,719 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Moderna by 4.2% during the third quarter. Principal Financial Group Inc. now owns 379,451 shares of the company’s stock valued at $25,359,000 after purchasing an additional 15,218 shares in the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Moderna

In related news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the transaction, 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 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 2,930 shares of company stock worth $217,170. Insiders own 15.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MRNA. JPMorgan Chase & Co. dropped their price target on shares of Moderna from $70.00 to $59.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised Moderna from a “sell” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $80.00 in a report on Wednesday, August 7th. UBS Group lowered their target price on Moderna from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Oppenheimer downgraded Moderna from an “outperform” rating to a “market perform” rating in a research note on Friday, September 13th. Finally, Leerink Partners lowered their price objective on shares of Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Moderna currently has an average rating of “Hold” and an average price target of $86.33.

Moderna Stock Performance

NASDAQ:MRNA opened at $39.51 on Tuesday. The stock has a 50-day moving average price of $58.56 and a 200 day moving average price of $96.68. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. Moderna, Inc. has a 12-month low of $35.80 and a 12-month high of $170.47. The stock has a market capitalization of $15.20 billion, a P/E ratio of -6.70 and a beta of 1.69.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.89) by $1.92. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted ($1.39) earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Moderna, Inc. will post -9.43 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.