Moderna (NASDAQ:MRNA) Cut to “Equal Weight” at Barclays

Barclays lowered shares of Moderna (NASDAQ:MRNA) from an overweight rating to an equal weight rating in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm currently has $45.00 target price on the stock, down from their previous target price of $111.00.

A number of other brokerages have also weighed in on MRNA. HSBC upgraded Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, November 18th. The Goldman Sachs Group lowered Moderna from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $99.00 to $51.00 in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $69.00 target price (down from $115.00) on shares of Moderna in a research note on Monday, November 18th. Bank of America reduced their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley lowered their target price on Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Moderna presently has an average rating of “Hold” and a consensus target price of $60.63.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $33.73 on Tuesday. Moderna has a one year low of $29.25 and a one year high of $170.47. The business’s fifty day moving average price is $38.17 and its 200-day moving average price is $53.20. The stock has a market capitalization of $12.98 billion, a PE ratio of -3.63 and a beta of 1.59.

Insider Buying and Selling at Moderna

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the sale, the insider now directly owns 19,717 shares in the company, valued at $843,690.43. This represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,664 shares of company stock worth $115,210 over the last ninety days. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

A number of hedge funds have recently modified their holdings of MRNA. Wilmington Savings Fund Society FSB increased its position in Moderna by 295.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after buying an additional 587 shares during the last quarter. Compass Planning Associates Inc acquired a new position in Moderna during the fourth quarter worth $37,000. Venturi Wealth Management LLC increased its position in Moderna by 286.2% during the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after buying an additional 664 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in Moderna during the fourth quarter worth $41,000. Finally, Itau Unibanco Holding S.A. increased its position in Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock worth $42,000 after buying an additional 343 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

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.