Renaissance Technologies LLC Sells 21,900 Shares of Moderna, Inc. (NASDAQ:MRNA)

Renaissance Technologies LLC lowered its position in Moderna, Inc. (NASDAQ:MRNA) by 20.3% in the 2nd quarter, Holdings Channel reports. The fund owned 85,900 shares of the company’s stock after selling 21,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Moderna were worth $10,201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRNA. Ashton Thomas Private Wealth LLC bought a new position in Moderna in the second quarter worth $26,000. Cedar Wealth Management LLC increased its stake in shares of Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after acquiring an additional 90 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Moderna during the first quarter worth about $32,000. Family Firm Inc. bought a new stake in Moderna during the second quarter worth about $33,000. Finally, Rise Advisors LLC grew its holdings in Moderna by 953.3% in the first quarter. Rise Advisors LLC now owns 316 shares of the company’s stock worth $34,000 after purchasing an additional 286 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRNA. Oppenheimer cut Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday, September 13th. William Blair reissued a “market perform” rating on shares of Moderna in a research note on Thursday, June 27th. The Goldman Sachs Group lowered their price target on Moderna from $178.00 to $139.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. cut shares of Moderna from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $88.00 to $70.00 in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Moderna has an average rating of “Hold” and a consensus price target of $100.44.

Insider Buying and Selling

In other Moderna news, President Stephen Hoge sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $121.12, for a total transaction of $1,816,800.00. Following the completion of the sale, the president now directly owns 1,442,089 shares of the company’s stock, valued at $174,665,819.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the transaction, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Hoge sold 15,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $121.12, for a total value of $1,816,800.00. Following the sale, the president now directly owns 1,442,089 shares of the company’s stock, valued at approximately $174,665,819.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,158 shares of company stock valued at $11,167,312. 15.70% of the stock is owned by insiders.

Moderna Price Performance

NASDAQ MRNA opened at $64.14 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. Moderna, Inc. has a 1-year low of $62.55 and a 1-year high of $170.47. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of -4.09 and a beta of 1.67. The business’s fifty day moving average price is $88.92 and its 200-day moving average price is $110.71.

Moderna (NASDAQ:MRNA) last posted its earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. The company had revenue of $241.00 million for 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%. Moderna’s revenue was down 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.62) earnings per share. On average, equities analysts predict that Moderna, Inc. will post -9.52 earnings per share for the current year.

Moderna 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.