Moderna (NASDAQ:MRNA) Rating Reiterated by Needham & Company LLC

Moderna (NASDAQ:MRNA)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

Several other brokerages have also recently commented on MRNA. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 price target on shares of Moderna in a research report on Tuesday, April 9th. William Blair reiterated a “market perform” rating on shares of Moderna in a research report on Monday, April 1st. HSBC restated a “reduce” rating and set a $86.00 price target (up from $75.00) on shares of Moderna in a research report on Monday, February 26th. Canaccord Genuity Group raised their target price on shares of Moderna from $82.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Moderna in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $129.55.

Moderna Price Performance

Shares of Moderna stock traded down $0.59 on Thursday, reaching $125.00. The company’s stock had a trading volume of 4,513,133 shares, compared to its average volume of 3,445,723. Moderna has a 52-week low of $62.55 and a 52-week high of $142.79. The company has a market capitalization of $47.86 billion, a P/E ratio of -7.98 and a beta of 1.57. The company has a quick ratio of 3.36, a current ratio of 4.03 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $105.05 and a 200-day moving average price of $94.37.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($3.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.59) by $0.52. The business had revenue of $167.00 million for the quarter, compared to the consensus estimate of $93.26 million. Moderna had a negative net margin of 115.82% and a negative return on equity of 20.10%. The company’s revenue was down 91.0% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. Analysts expect that Moderna will post -7.51 EPS for the current year.

Insider Buying and Selling at Moderna

In related news, insider Shannon Thyme Klinger sold 670 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $63,361.90. Following the completion of the transaction, the insider now directly owns 8,557 shares of the company’s stock, valued at approximately $809,235.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Stephen Hoge sold 2,388 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.57, for a total value of $225,833.16. Following the transaction, the president now owns 1,515,898 shares of the company’s stock, valued at $143,358,473.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shannon Thyme Klinger sold 670 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total value of $63,361.90. Following the completion of the transaction, the insider now directly owns 8,557 shares of the company’s stock, valued at $809,235.49. The disclosure for this sale can be found here. Insiders sold 139,954 shares of company stock valued at $14,822,576 in the last 90 days. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Moderna by 22.6% during the fourth quarter. Vanguard Group Inc. now owns 33,907,072 shares of the company’s stock worth $3,372,058,000 after acquiring an additional 6,248,623 shares during the last quarter. Norges Bank purchased a new position in Moderna during the 4th quarter worth $347,565,000. The Manufacturers Life Insurance Company increased its stake in Moderna by 77.3% in the third quarter. The Manufacturers Life Insurance Company now owns 3,876,147 shares of the company’s stock valued at $400,367,000 after purchasing an additional 1,690,341 shares during the period. Wellington Management Group LLP raised its holdings in shares of Moderna by 28.8% in the fourth quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock valued at $718,584,000 after buying an additional 1,614,460 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Moderna by 19.8% during the third quarter. Invesco Ltd. now owns 3,126,028 shares of the company’s stock worth $322,887,000 after buying an additional 517,683 shares during the period. 75.33% of the stock is owned by hedge funds and other 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.