CIBC Private Wealth Group LLC Increases Stake in Moderna, Inc. (NASDAQ:MRNA)

CIBC Private Wealth Group LLC increased its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 73.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,046 shares of the company’s stock after buying an additional 2,979 shares during the period. CIBC Private Wealth Group LLC’s holdings in Moderna were worth $304,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after purchasing an additional 1,823,276 shares during the last quarter. Geode Capital Management LLC increased its holdings in Moderna by 2.6% in the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock valued at $470,670,000 after buying an additional 178,115 shares during the last quarter. Wellington Management Group LLP raised its stake in Moderna by 21.0% in the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after buying an additional 906,114 shares in the last quarter. Norges Bank purchased a new stake in Moderna during the 4th quarter worth about $163,833,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Moderna by 9.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,344,203 shares of the company’s stock worth $97,472,000 after acquiring an additional 211,426 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Stock Down 2.4 %

Shares of NASDAQ:MRNA opened at $25.11 on Friday. Moderna, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $170.47. The firm’s 50-day simple moving average is $33.55 and its 200-day simple moving average is $42.80. The company has a market cap of $9.71 billion, a price-to-earnings ratio of -2.71 and a beta of 2.23.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased 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. Bank of America reduced their price objective on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating on the stock in a research report on Friday, March 21st. Berenberg Bank boosted their price target 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 lowered Moderna from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $111.00 to $45.00 in a report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.00.

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.