Royal Bank of Canada Trims Moderna (NASDAQ:MRNA) Target Price to $125.00

Moderna (NASDAQ:MRNAFree Report) had its target price lowered by Royal Bank of Canada from $160.00 to $125.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

MRNA has been the topic of several other reports. UBS Group increased their price target on shares of Moderna from $143.00 to $151.00 and gave the company a buy rating in a research note on Tuesday, May 7th. William Blair reissued a market perform rating on shares of Moderna in a research note on Thursday, June 27th. Jefferies Financial Group reissued a buy rating and set a $125.00 price target on shares of Moderna in a research note on Tuesday, April 9th. Evercore ISI reissued an in-line rating and set a $120.00 price target on shares of Moderna in a research note on Thursday, June 27th. Finally, Oppenheimer raised their price objective on shares of Moderna from $163.00 to $179.00 and gave the company an outperform rating in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $122.79.

Read Our Latest Research Report on MRNA

Moderna Price Performance

NASDAQ:MRNA traded down $2.88 during mid-day trading on Friday, hitting $83.70. The company’s stock had a trading volume of 7,337,081 shares, compared to its average volume of 4,150,640. The company has a market capitalization of $32.08 billion, a price-to-earnings ratio of -5.53 and a beta of 1.67. The stock has a fifty day moving average of $129.81 and a 200-day moving average of $115.22. The company has a current ratio of 4.09, a quick ratio of 3.91 and a debt-to-equity ratio of 0.05. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $170.47.

Moderna (NASDAQ:MRNAGet Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping the consensus estimate of ($3.47) by $0.14. The company had revenue of $241.00 million during the quarter, compared to analyst estimates of $128.41 million. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The company’s revenue was down 29.9% on a year-over-year basis. During the same quarter last year, the business posted ($3.62) earnings per share. As a group, equities analysts forecast that Moderna will post -7.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $121.68, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now owns 2,011,931 shares of the company’s stock, valued at approximately $244,811,764.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $121.68, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now owns 2,011,931 shares of the company’s stock, valued at approximately $244,811,764.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Hoge sold 255 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.96, for a total transaction of $30,844.80. Following the completion of the sale, the president now directly owns 1,486,508 shares of the company’s stock, valued at approximately $179,808,007.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,239 shares of company stock valued at $55,563,937. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Moderna by 15.1% during the first quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock valued at $4,159,769,000 after purchasing an additional 5,129,800 shares during the period. Wellington Management Group LLP increased its position in shares of Moderna by 28.8% during the 4th quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock valued at $718,584,000 after purchasing an additional 1,614,460 shares during the last quarter. Capital World Investors increased its position in shares of Moderna by 0.5% during the 1st quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock valued at $388,743,000 after purchasing an additional 18,728 shares during the last quarter. Norges Bank purchased a new stake in shares of Moderna during the 4th quarter valued at $347,565,000. Finally, Mawer Investment Management Ltd. increased its position in shares of Moderna by 6.7% during the 1st quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock valued at $204,230,000 after purchasing an additional 120,621 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Moderna Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Moderna (NASDAQ:MRNA)

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