Moderna (NASDAQ:MRNA) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Moderna (NASDAQ:MRNA) from a neutral rating to an underweight rating in a research note released on Friday, MarketBeat.com reports. They currently have $70.00 price target on the stock, down from their previous price target of $88.00.

Several other equities analysts have also issued reports on MRNA. Evercore ISI restated an in-line rating and set a $120.00 target price on shares of Moderna in a research report on Thursday, June 27th. William Blair reaffirmed a market perform rating on shares of Moderna in a research note on Thursday, June 27th. Royal Bank of Canada cut shares of Moderna from an outperform rating to a sector perform rating and reduced their price target for the stock from $125.00 to $90.00 in a research report on Monday, August 5th. Oppenheimer cut shares of Moderna from an outperform rating to a market perform rating in a research report on Friday. Finally, Piper Sandler reiterated an overweight rating and set a $157.00 target price (down from $214.00) on shares of Moderna in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $108.53.

Moderna Trading Down 2.0 %

Shares of NASDAQ MRNA opened at $68.28 on Friday. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $170.47. The firm has a market capitalization of $26.17 billion, a P/E ratio of -4.36 and a beta of 1.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. The company’s 50 day simple moving average is $95.06 and its 200 day simple moving average is $111.89.

Moderna (NASDAQ:MRNA) last posted its quarterly 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. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The company had revenue of $241.00 million for the quarter, compared to the consensus estimate of $128.41 million. During the same quarter in the prior year, the business posted ($3.62) EPS. The firm’s quarterly revenue was down 29.9% on a year-over-year basis. On average, analysts predict that Moderna will post -9.52 EPS for the current year.

Insider Activity at Moderna

In related news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $127.22, for a total transaction of $1,908,300.00. Following the sale, the director now owns 2,284,015 shares in the company, valued at $290,572,388.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $127.22, for a total transaction of $1,908,300.00. Following the sale, the director now directly owns 2,284,015 shares of the company’s stock, valued at $290,572,388.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,158 shares of company stock valued at $11,167,312. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Several institutional investors and hedge funds have recently bought and sold shares of MRNA. Cedar Wealth Management LLC increased its holdings in shares of Moderna by 45.0% in the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after purchasing an additional 90 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Moderna by 1.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock worth $660,000 after acquiring an additional 93 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of Moderna by 21.6% during the second quarter. CVA Family Office LLC now owns 541 shares of the company’s stock worth $64,000 after acquiring an additional 96 shares during the period. Claro Advisors LLC grew its position in shares of Moderna by 2.0% in the second quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock valued at $659,000 after purchasing an additional 108 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Moderna by 32.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock worth $47,000 after purchasing an additional 116 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.