UBS Group Lowers Moderna (NASDAQ:MRNA) Price Target to $78.00

Moderna (NASDAQ:MRNA) had its target price decreased by UBS Group from $96.00 to $78.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 131.25% from the stock’s previous close.

A number of other brokerages have also weighed in on MRNA. Berenberg Bank raised their price objective on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Wolfe Research initiated coverage on Moderna in a research report on Friday, November 15th. They issued an “underperform” rating and a $40.00 price target for the company. Bank of America dropped their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target on Moderna from $59.00 to $45.00 and set an “underweight” rating for the company in a research report on Tuesday, November 26th. Finally, Argus lowered Moderna from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.63.

Moderna Stock Down 6.0 %

Shares of Moderna stock opened at $33.73 on Wednesday. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of -3.63 and a beta of 1.59. The business has a 50-day moving average price of $38.17 and a 200-day moving average price of $53.20. Moderna has a twelve month low of $29.25 and a twelve month high of $170.47.

Insider Activity

In other news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the completion of the sale, the insider now owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 2,664 shares of company stock valued at $115,210. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Several institutional investors and hedge funds have recently modified their holdings of MRNA. Norges Bank purchased a new position in Moderna during the fourth quarter valued at approximately $163,833,000. Voloridge Investment Management LLC increased its holdings in Moderna by 335.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock valued at $107,727,000 after buying an additional 1,996,003 shares during the period. State Street Corp increased its holdings in Moderna by 12.1% during the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after buying an additional 1,823,276 shares during the period. FMR LLC increased its holdings in Moderna by 7.4% during the fourth quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after buying an additional 1,282,469 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in Moderna by 170.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock valued at $73,447,000 after buying an additional 1,113,455 shares during the period. Institutional investors own 75.33% of the company’s stock.

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.