PNC Financial Services Group Inc. Sells 7,236 Shares of Moderna, Inc. (NASDAQ:MRNA)

PNC Financial Services Group Inc. lessened its stake in Moderna, Inc. (NASDAQ:MRNA) by 17.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,999 shares of the company’s stock after selling 7,236 shares during the period. PNC Financial Services Group Inc.’s holdings in Moderna were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Moderna in the 2nd quarter worth $26,000. Family Firm Inc. purchased a new stake in Moderna in the second quarter valued at about $33,000. Bank & Trust Co purchased a new stake in Moderna in the second quarter valued at about $36,000. Hanseatic Management Services Inc. acquired a new stake in Moderna in the second quarter worth about $48,000. Finally, Plato Investment Management Ltd grew its stake in shares of Moderna by 230.4% during the second quarter. Plato Investment Management Ltd now owns 413 shares of the company’s stock worth $49,000 after acquiring an additional 288 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Moderna

In related news, 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 value of $104,874.19. Following the completion of the sale, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. This trade represents a 13.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,930 shares of company stock worth $217,170 in the last ninety days. 15.20% of the stock is owned by insiders.

Moderna Trading Up 6.2 %

MRNA opened at $43.66 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. The company’s 50 day simple moving average is $54.96 and its two-hundred day simple moving average is $93.71. The firm has a market capitalization of $16.80 billion, a price-to-earnings ratio of -7.50 and a beta of 1.69. Moderna, Inc. has a 1-year low of $35.80 and a 1-year high of $170.47.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.89) by $1.92. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned ($1.39) EPS. Analysts expect that Moderna, Inc. will post -9.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MRNA shares. Deutsche Bank Aktiengesellschaft upgraded shares of Moderna from a “sell” rating to a “hold” rating and cut their price target for the company from $85.00 to $80.00 in a research note on Wednesday, August 7th. TD Cowen cut their target price on Moderna from $70.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. JPMorgan Chase & Co. lowered their price target on Moderna from $70.00 to $59.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wolfe Research assumed coverage on Moderna in a report on Friday, November 15th. They issued an “underperform” rating and a $40.00 price objective on the stock. Finally, HSBC upgraded Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.00.

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.