Citigroup Initiates Coverage on Moderna (NASDAQ:MRNA)

Investment analysts at Citigroup assumed coverage on shares of Moderna (NASDAQ:MRNA) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $40.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 15.54% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Evercore ISI set a $50.00 price target on shares of Moderna in a report on Friday, February 14th. Leerink Partners lowered their price target on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Wolfe Research assumed coverage on shares of Moderna in a report on Friday, November 15th. They set an “underperform” rating and a $40.00 price target for the company. Morgan Stanley lowered their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Finally, Berenberg Bank boosted their price target on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.60.

Moderna Stock Up 0.9 %

NASDAQ MRNA opened at $34.62 on Thursday. Moderna has a 52 week low of $29.25 and a 52 week high of $170.47. The stock has a market capitalization of $13.36 billion, a PE ratio of -3.73 and a beta of 1.86. The firm has a 50 day moving average of $35.94 and a two-hundred day moving average of $47.59.

Hedge Funds Weigh In On Moderna

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Moderna during the 4th quarter worth $4,486,000. PKO Investment Management Joint Stock Co acquired a new position in shares of Moderna during the 4th quarter worth $249,000. Probity Advisors Inc. grew its stake in Moderna by 121.8% in the 4th quarter. Probity Advisors Inc. now owns 10,746 shares of the company’s stock valued at $447,000 after acquiring an additional 5,902 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Moderna in the 4th quarter valued at about $18,084,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in Moderna by 17.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,158 shares of the company’s stock valued at $256,000 after acquiring an additional 929 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

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.