Moderna (NASDAQ:MRNA) PT Lowered to $115.00

Moderna (NASDAQ:MRNA) had its price objective reduced by equities researchers at Piper Sandler from $157.00 to $115.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 68.42% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Oppenheimer lowered shares of Moderna from an “outperform” rating to a “market perform” rating in a report on Friday. The Goldman Sachs Group decreased their target price on Moderna from $204.00 to $178.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a report on Thursday, August 1st. Royal Bank of Canada lowered shares of Moderna from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $125.00 to $90.00 in a research note on Monday, August 5th. Finally, HSBC raised Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price objective for the company in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Moderna currently has an average rating of “Hold” and an average target price of $108.53.

Moderna Trading Down 2.0 %

NASDAQ:MRNA opened at $68.28 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. The stock has a market cap of $26.17 billion, a PE ratio of -4.36 and a beta of 1.67. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $170.47. The stock’s 50-day moving average is $95.06 and its two-hundred day moving average is $111.79.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share 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 company 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 business earned ($3.62) earnings per share. Moderna’s revenue for the quarter was down 29.9% compared to the same quarter last year. As a group, equities research analysts forecast that Moderna will post -9.52 earnings per share for the current fiscal year.

Insider Activity

In other news, President Stephen Hoge sold 15,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.16, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO James M. Mock sold 1,321 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the sale, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Hoge sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $138.16, for a total transaction of $2,072,400.00. Following the completion of the transaction, the president now directly owns 1,457,089 shares in the company, valued at approximately $201,311,416.24. The disclosure for this sale can be found here. Insiders have sold a total of 108,158 shares of company stock valued at $13,239,712 over the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Moderna

Hedge funds have recently modified their holdings of the company. Cedar Wealth Management LLC boosted 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 acquiring an additional 90 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Moderna by 1.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock valued at $660,000 after acquiring an additional 93 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of Moderna by 21.6% in the second quarter. CVA Family Office LLC now owns 541 shares of the company’s stock valued at $64,000 after purchasing an additional 96 shares during the last quarter. Claro Advisors LLC grew its holdings in shares of Moderna by 2.0% in the second quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock valued at $659,000 after purchasing an additional 108 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Moderna by 32.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock worth $47,000 after buying an additional 116 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.