Moderna (NASDAQ:MRNA) Given “Overweight” Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Moderna (NASDAQ:MRNA) in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has a $69.00 price objective on the stock, down from their previous price objective of $115.00.

A number of other research analysts have also recently weighed in on MRNA. Bank of America reduced their target price on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. The Goldman Sachs Group reduced their target price on Moderna from $178.00 to $139.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $75.00 target price on shares of Moderna in a report on Thursday, September 19th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a report on Friday, November 8th. Finally, Leerink Partners reduced their target price on Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, September 17th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.33.

Moderna Trading Up 7.2 %

MRNA stock opened at $39.51 on Monday. Moderna has a 52-week low of $35.80 and a 52-week high of $170.47. The stock’s fifty day simple moving average is $58.56 and its 200-day simple moving average is $96.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.89) by $1.92. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm earned ($1.39) earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts predict that Moderna will post -9.43 EPS for the current year.

Insider Transactions at Moderna

In other news, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the sale, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The trade was a 13.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 2,930 shares of company stock valued at $217,170. 15.20% of the stock is currently owned by insiders.

Institutional Trading of Moderna

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in Moderna by 12.1% in the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after buying 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 increased its holdings 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Moderna by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company’s stock valued at $260,023,000 after buying an additional 19,819 shares during the last quarter. Finally, Capital World Investors increased its holdings in Moderna by 0.5% in the first quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock valued at $388,743,000 after buying an additional 18,728 shares during the last quarter. 75.33% of the stock is owned by institutional investors.

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.