Citigroup Initiates Coverage on Moderna (NASDAQ:MRNA)

Investment analysts at Citigroup began coverage on shares of Moderna (NASDAQ:MRNA) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $40.00 price target on the stock. Citigroup’s price objective would indicate a potential upside of 14.25% from the company’s previous close.

Several other brokerages have also recently weighed in on MRNA. The Goldman Sachs Group cut shares of Moderna from a “buy” rating to a “neutral” rating and dropped their price target for the company from $99.00 to $51.00 in a research report on Wednesday, January 29th. Argus lowered shares of Moderna from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Bank of America cut their target price on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Hsbc Global Res raised Moderna from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Berenberg Bank lifted their price objective on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.60.

Moderna Trading Up 3.7 %

MRNA opened at $35.01 on Thursday. Moderna has a 12 month low of $29.25 and a 12 month high of $170.47. The business’s 50-day moving average price is $36.25 and its 200-day moving average price is $48.01. The company has a market cap of $13.51 billion, a P/E ratio of -3.77 and a beta of 1.86.

Institutional Investors Weigh In On Moderna

Several hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB raised its position in shares of Moderna by 295.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after purchasing an additional 587 shares during the last quarter. Compass Planning Associates Inc bought a new stake in Moderna during the 4th quarter valued at about $37,000. Venturi Wealth Management LLC lifted its stake in shares of Moderna by 286.2% in 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 in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Moderna in the fourth quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock valued at $42,000 after buying an additional 343 shares during the last quarter. 75.33% of the stock is owned by 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.