Moderna (NASDAQ:MRNA) Stock Rating Reaffirmed by Needham & Company LLC

Moderna (NASDAQ:MRNA)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports.

Other analysts have also issued research reports about the stock. Piper Sandler lowered their price target on shares of Moderna from $157.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday. The Goldman Sachs Group decreased their price objective on shares of Moderna from $204.00 to $178.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. HSBC raised Moderna from a “reduce” rating to a “hold” rating and set a $82.00 target price on the stock in a research note on Wednesday, August 28th. Oppenheimer lowered Moderna from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Royal Bank of Canada cut Moderna from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $125.00 to $90.00 in a research note on Monday, August 5th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $108.53.

Moderna Stock Performance

Shares of MRNA stock opened at $68.28 on Friday. 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 $26.17 billion, a price-to-earnings ratio of -4.36 and a beta of 1.67. The firm has a 50 day moving average of $95.06 and a 200-day moving average of $111.79. Moderna has a 52 week low of $62.55 and a 52 week high of $170.47.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) EPS for the quarter, topping the consensus estimate of ($3.47) by $0.14. The firm had revenue of $241.00 million during the quarter, compared to the consensus estimate of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The company’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.62) earnings per share. On average, equities analysts forecast that Moderna will post -9.52 earnings per share for the current year.

Insider Buying and Selling at Moderna

In related news, CFO James M. Mock sold 689 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $118.24, for a total transaction of $81,467.36. Following the transaction, the chief financial officer now owns 7,269 shares in the company, valued at $859,486.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Moderna news, CFO James M. Mock sold 689 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $118.24, for a total transaction of $81,467.36. Following the transaction, the chief financial officer now owns 7,269 shares in the company, valued at approximately $859,486.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James M. Mock sold 1,321 shares of the company’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 value of $104,874.19. Following the transaction, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,158 shares of company stock valued at $13,239,712. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of Moderna

Institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Moderna in the second quarter worth $3,140,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Moderna by 4.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 283,909 shares of the company’s stock worth $33,714,000 after purchasing an additional 11,828 shares in the last quarter. Ariadne Wealth Management LP bought a new position in Moderna in the 2nd quarter worth $2,372,000. Granite Bay Wealth Management LLC purchased a new position in Moderna during the second quarter valued at $524,000. Finally, Truist Financial Corp grew its holdings in Moderna by 7.3% during the second quarter. Truist Financial Corp now owns 18,657 shares of the company’s stock valued at $2,216,000 after purchasing an additional 1,275 shares during the period. 75.33% of the stock is currently owned by institutional investors.

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.