Moderna (NASDAQ:MRNA) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Moderna (NASDAQ:MRNA) in a research note published on Friday, Benzinga reports.

MRNA has been the subject of a number of other reports. Canaccord Genuity Group upped their price objective on shares of Moderna from $91.00 to $106.00 and gave the stock a hold rating in a research report on Friday, May 3rd. UBS Group upped their price target on shares of Moderna from $143.00 to $151.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Royal Bank of Canada increased their price target on Moderna from $135.00 to $160.00 and gave the company an outperform rating in a research note on Monday, June 3rd. Evercore ISI restated an in-line rating and set a $120.00 price objective on shares of Moderna in a research report on Thursday. Finally, Jefferies Financial Group reiterated a buy rating and issued a $125.00 target price on shares of Moderna in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $134.02.

Moderna Trading Down 2.0 %

Shares of MRNA stock opened at $118.75 on Friday. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $170.47. The stock’s fifty day moving average price is $134.13 and its two-hundred day moving average price is $111.72. The company has a quick ratio of 3.91, a current ratio of 4.03 and a debt-to-equity ratio of 0.04.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($3.07) earnings per share for the quarter, beating the consensus estimate of ($3.59) by $0.52. The business had revenue of $167.00 million for the quarter, compared to analyst estimates of $93.26 million. Moderna had a negative return on equity of 20.10% and a negative net margin of 115.82%. Moderna’s revenue was down 91.0% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Moderna will post -7.46 earnings per share for the current year.

Insider Activity

In related news, Director Noubar Afeyan sold 202,832 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $148.34, for a total value of $30,088,098.88. Following the transaction, the director now owns 1,528,557 shares in the company, valued at $226,746,145.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, President Stephen Hoge sold 15,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $138.16, for a total transaction of $2,072,400.00. Following the transaction, the president now owns 1,457,089 shares in the company, valued at approximately $201,311,416.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noubar Afeyan sold 202,832 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $148.34, for a total transaction of $30,088,098.88. Following the completion of the sale, the director now owns 1,528,557 shares of the company’s stock, valued at $226,746,145.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,255 shares of company stock valued at $56,118,931. 15.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Moderna

Several institutional investors have recently made changes to their positions in MRNA. Vanguard Group Inc. increased its position in Moderna by 15.1% in the 1st quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock valued at $4,159,769,000 after buying an additional 5,129,800 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Moderna by 28.8% during the fourth quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock valued at $718,584,000 after acquiring an additional 1,614,460 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Moderna by 77.3% during the third quarter. The Manufacturers Life Insurance Company now owns 3,876,147 shares of the company’s stock worth $400,367,000 after purchasing an additional 1,690,341 shares during the period. Capital World Investors raised its position in shares of Moderna by 0.5% during the first quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock worth $388,743,000 after purchasing an additional 18,728 shares during the period. Finally, Norges Bank bought a new position in shares of Moderna in the 4th quarter worth $347,565,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Company Profile

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.