Moderna’s (MRNA) Underperform Rating Reiterated at Bank of America

Bank of America restated their underperform rating on shares of Moderna (NASDAQ:MRNA) in a research note released on Tuesday, MarketBeat Ratings reports. Bank of America currently has a $41.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein initiated coverage on shares of Moderna in a report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price target for the company. TD Cowen lowered their price target on shares of Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a report on Friday, September 13th. Barclays reduced their price objective on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Oppenheimer cut shares of Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday, September 13th. Finally, UBS Group reduced their price target on shares of Moderna from $140.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.50.

Moderna Price Performance

Shares of Moderna stock opened at $42.82 on Tuesday. The business’s fifty day moving average price is $48.62 and its 200 day moving average price is $85.02. The stock has a market capitalization of $16.48 billion, a P/E ratio of -7.36 and a beta of 1.58. Moderna has a twelve month low of $35.80 and a twelve month high of $170.47. 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 (NASDAQ:MRNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($1.89) by $1.92. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. Moderna’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned ($1.39) earnings per share. As a group, research analysts anticipate that Moderna will post -9.32 earnings per share for the current year.

Insider Activity

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the transaction, the insider now owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. This trade represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction 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 represents a 7.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,379 shares of company stock worth $158,195. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Moderna by 12.1% in the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after purchasing an additional 1,823,276 shares during the period. Geode Capital Management LLC grew its position in shares of Moderna by 2.6% in the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock valued at $470,670,000 after purchasing an additional 178,115 shares during the period. Wellington Management Group LLP grew its position in shares of Moderna by 21.0% in the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after purchasing an additional 906,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Moderna by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company’s stock valued at $260,023,000 after purchasing an additional 19,819 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Moderna by 6.2% in the third quarter. The Manufacturers Life Insurance Company now owns 3,073,934 shares of the company’s stock valued at $205,431,000 after purchasing an additional 178,939 shares during the period. 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.