Moderna (NASDAQ:MRNA) Reaches New 12-Month Low Following Analyst Downgrade

Moderna, Inc. (NASDAQ:MRNA)’s stock price reached a new 52-week low on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $70.00 to $59.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Moderna traded as low as $52.08 and last traded at $52.75, with a volume of 2452446 shares. The stock had previously closed at $53.54.

A number of other equities research analysts have also recently weighed in on the company. Leerink Partners dropped their price target on Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 17th. Bank of America dropped their price objective on shares of Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. The Goldman Sachs Group reduced their target price on shares of Moderna from $178.00 to $139.00 and set a “buy” rating for the company in a report on Monday, September 16th. Sanford C. Bernstein assumed coverage on shares of Moderna in a research note on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price target on the stock. Finally, HSBC upgraded shares of Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price objective for the company in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Moderna has a consensus rating of “Hold” and an average target price of $94.00.

Insider Buying and Selling

In other Moderna news, CFO James M. Mock sold 1,321 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at approximately $682,754. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Moderna news, CFO James M. Mock sold 715 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the sale, the chief financial officer now owns 9,505 shares in the company, valued at approximately $571,440.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the sale, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,184 shares of company stock worth $238,531. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Moderna

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Moderna by 15.1% in the first quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock worth $4,159,769,000 after buying an additional 5,129,800 shares during the last quarter. Capital World Investors lifted its holdings in shares of Moderna by 0.5% in the 1st quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock worth $388,743,000 after acquiring an additional 18,728 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Moderna by 11.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after acquiring an additional 167,596 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Moderna by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,427,300 shares of the company’s stock valued at $169,542,000 after purchasing an additional 29,566 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in Moderna by 10.4% in the 3rd quarter. ARK Investment Management LLC now owns 1,163,946 shares of the company’s stock worth $77,787,000 after purchasing an additional 109,852 shares during the period. Institutional investors own 75.33% of the company’s stock.

Moderna Trading Down 2.8 %

The company’s 50 day simple moving average is $63.00 and its 200-day simple moving average is $99.97. The firm has a market cap of $19.92 billion, a P/E ratio of -3.37 and a beta of 1.69. The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.05.

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.