JPMorgan Chase & Co. Issues Pessimistic Forecast for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $40.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 1.04% from the stock’s current price.

Several other brokerages also recently weighed in on MRNA. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price objective on shares of Moderna in a research report on Tuesday, February 18th. Leerink Partners dropped their price target on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. UBS Group dropped their price target on shares of Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. 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 research report on Thursday, January 16th. Finally, Evercore ISI set a $50.00 price target on shares of Moderna in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Moderna currently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Stock Up 0.6 %

Shares of NASDAQ:MRNA opened at $32.66 on Friday. The company has a market cap of $12.60 billion, a PE ratio of -3.52 and a beta of 1.86. The company’s 50-day moving average price is $34.91 and its 200 day moving average price is $45.86. Moderna has a fifty-two week low of $29.25 and a fifty-two week high of $170.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Moderna by 60.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,431 shares of the company’s stock worth $558,000 after purchasing an additional 5,078 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Moderna during the fourth quarter worth approximately $4,486,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Moderna during the fourth quarter worth approximately $249,000. Probity Advisors Inc. boosted its holdings in shares of Moderna by 121.8% during the fourth quarter. Probity Advisors Inc. now owns 10,746 shares of the company’s stock worth $447,000 after purchasing an additional 5,902 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Moderna during the fourth quarter worth approximately $18,084,000. 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.