Moderna (NASDAQ:MRNA) Hits New 1-Year Low – Here’s Why

Moderna, Inc. (NASDAQ:MRNA) hit a new 52-week low on Tuesday . The stock traded as low as $26.80 and last traded at $28.35, with a volume of 20439330 shares. The stock had previously closed at $31.12.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MRNA shares. UBS Group dropped their price objective on Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Evercore ISI set a $50.00 target price on shares of Moderna in a research note on Friday, February 14th. Morgan Stanley reduced 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 note on Wednesday, January 15th. Berenberg Bank boosted their price objective on shares of Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Barclays downgraded shares of Moderna from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $111.00 to $45.00 in a research note on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Stock Performance

The firm’s 50 day moving average is $34.60 and its 200 day moving average is $43.84. The stock has a market cap of $10.96 billion, a P/E ratio of -3.05 and a beta of 1.86.

Hedge Funds Weigh In On Moderna

Large investors have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Moderna by 17.3% in the 4th quarter. Allworth Financial LP now owns 1,901 shares of the company’s stock worth $73,000 after purchasing an additional 281 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in Moderna by 3.1% in the fourth quarter. Howard Capital Management Inc. now owns 9,994 shares of the company’s stock worth $416,000 after acquiring an additional 297 shares in the last quarter. Itau Unibanco Holding S.A. increased 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 acquiring an additional 343 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Moderna by 0.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 74,520 shares of the company’s stock valued at $3,099,000 after acquiring an additional 345 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Moderna by 39.1% in the 4th quarter. Larson Financial Group LLC now owns 1,266 shares of the company’s stock valued at $53,000 after purchasing an additional 356 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.