Moderna (NASDAQ:MRNA) Trading 5.3% Higher – Here’s What Happened

by · The Markets Daily

Moderna, Inc. (NASDAQ:MRNA – Get Free Report) rose 5.3% during trading on Wednesday . The stock traded as high as $31.70 and last traded at $31.4850. Approximately 4,358,307 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 10,820,074 shares. The stock had previously closed at $29.89.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MRNA shares. Berenberg Bank set a $28.00 price target on Moderna in a report on Monday, November 17th. Morgan Stanley lowered their target price on Moderna from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup cut their target price on Moderna from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research note on Monday, October 20th. Finally, Royal Bank Of Canada lowered their price target on Moderna from $28.00 to $25.00 and set a “sector perform” rating on the stock in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $29.21.

View Our Latest Research Report on Moderna

Moderna Stock Up 3.1%

The stock has a market capitalization of $12.05 billion, a P/E ratio of -3.82 and a beta of 1.11. The firm’s 50-day simple moving average is $26.14 and its 200 day simple moving average is $27.11.

Moderna (NASDAQ:MRNA – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.15) by $1.64. Moderna had a negative net margin of 139.61% and a negative return on equity of 29.81%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $893.29 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was down 45.4% compared to the same quarter last year. As a group, equities analysts anticipate that Moderna, Inc. will post -9.61 EPS for the current fiscal year.

Insider Transactions at Moderna

In other Moderna news, Director Noubar Afeyan sold 23,853 shares of Moderna stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $29.48, for a total value of $703,186.44. Following the transaction, the director owned 3,924 shares in the company, valued at approximately $115,679.52. The trade was a 85.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Moderna

Several large investors have recently modified their holdings of MRNA. Norges Bank purchased a new position in Moderna during the second quarter valued at approximately $94,910,000. Vanguard Group Inc. lifted its position in Moderna by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 41,708,705 shares of the company’s stock worth $1,150,743,000 after buying an additional 1,312,192 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Moderna by 5,590.0% during the 1st quarter. Jump Financial LLC now owns 902,427 shares of the company’s stock valued at $25,584,000 after buying an additional 886,567 shares during the period. FORA Capital LLC boosted its stake in shares of Moderna by 31.7% during the 1st quarter. FORA Capital LLC now owns 97,072 shares of the company’s stock valued at $2,752,000 after buying an additional 23,344 shares during the period. Finally, Letko Brosseau & Associates Inc. grew its holdings in shares of Moderna by 2.4% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 918,190 shares of the company’s stock valued at $25,333,000 after acquiring an additional 21,765 shares in the last quarter. 75.33% of the stock is owned by institutional investors.

About Moderna

(Get Free Report)

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.

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