Moderna (NASDAQ:MRNA) Price Target Lowered to $34.00 at Bank of America

Moderna (NASDAQ:MRNA) had its target price reduced by equities researchers at Bank of America from $41.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential upside of 11.37% from the stock’s current price.

Several other analysts have also recently commented on the company. Wolfe Research assumed coverage on Moderna in a report on Friday, November 15th. They issued an “underperform” rating and a $40.00 target price on the stock. Jefferies Financial Group reduced their price objective on shares of Moderna from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group downgraded shares of Moderna from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $99.00 to $51.00 in a research note on Wednesday, January 29th. Morgan Stanley cut their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Finally, UBS Group lowered their price objective on Moderna from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Moderna currently has an average rating of “Hold” and an average price target of $66.89.

Moderna Stock Down 1.3 %

Shares of MRNA opened at $30.53 on Tuesday. The company has a market capitalization of $11.75 billion, a PE ratio of -5.25 and a beta of 1.59. The stock’s 50-day moving average price is $39.53 and its two-hundred day moving average price is $56.11. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. Moderna has a 12 month low of $30.24 and a 12 month high of $170.47.

Insider Transactions at Moderna

In related news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $42.79, for a total transaction of $60,676.22. Following the transaction, the insider now owns 19,717 shares of the company’s stock, valued at $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 2,664 shares of company stock valued at $115,210 over the last three months. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

A number of hedge funds have recently bought and sold shares of MRNA. Wilmington Savings Fund Society FSB lifted its position in shares of Moderna by 295.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after purchasing an additional 587 shares in the last quarter. Compass Planning Associates Inc purchased a new stake in Moderna in the 4th quarter valued at about $37,000. Venturi Wealth Management LLC lifted its position in shares of Moderna by 286.2% during the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after buying an additional 664 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Moderna in the 4th quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Moderna by 58.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock valued at $44,000 after acquiring an additional 389 shares in the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Moderna Company 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.