Granite Bay Wealth Management LLC Sells 11,400 Shares of Moderna, Inc. (NASDAQ:MRNA)

Granite Bay Wealth Management LLC cut its stake in Moderna, Inc. (NASDAQ:MRNA) by 72.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,413 shares of the company’s stock after selling 11,400 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Moderna were worth $439,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cim Investment Management Inc. lifted its position in shares of Moderna by 4.2% during the first quarter. Cim Investment Management Inc. now owns 2,139 shares of the company’s stock worth $329,000 after purchasing an additional 86 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Moderna by 0.5% during the fourth quarter. Cetera Advisor Networks LLC now owns 17,195 shares of the company’s stock valued at $3,088,000 after buying an additional 87 shares during the period. Ancora Advisors LLC increased its stake in shares of Moderna by 41.2% during the first quarter. Ancora Advisors LLC now owns 329 shares of the company’s stock valued at $51,000 after buying an additional 96 shares during the period. Sunbelt Securities Inc. increased its stake in shares of Moderna by 7.5% during the first quarter. Sunbelt Securities Inc. now owns 1,428 shares of the company’s stock valued at $211,000 after buying an additional 100 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Moderna by 6.5% during the fourth quarter. Allworth Financial LP now owns 1,660 shares of the company’s stock valued at $165,000 after buying an additional 101 shares during the period. 75.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Stephen Hoge sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $103.90, for a total value of $1,558,500.00. Following the transaction, the president now owns 1,516,063 shares of the company’s stock, valued at approximately $157,518,945.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO James M. Mock sold 647 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $61,186.79. Following the completion of the transaction, the chief financial officer now directly owns 4,300 shares in the company, valued at approximately $406,651. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Hoge sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $103.90, for a total value of $1,558,500.00. Following the transaction, the president now owns 1,516,063 shares of the company’s stock, valued at $157,518,945.70. The disclosure for this sale can be found here. Insiders have sold a total of 94,954 shares of company stock valued at $9,966,476 in the last quarter. Insiders own 15.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRNA. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Moderna in a research note on Thursday, March 28th. Oppenheimer raised Moderna from a “market perform” rating to an “outperform” rating and set a $142.00 target price for the company in a report on Tuesday, January 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a report on Thursday. Canaccord Genuity Group boosted their price target on Moderna from $82.00 to $91.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $125.00 price target on shares of Moderna in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Moderna presently has an average rating of “Hold” and a consensus target price of $126.49.

Moderna Trading Down 1.7 %

NASDAQ:MRNA traded down $1.87 during trading hours on Friday, hitting $105.14. The company had a trading volume of 2,416,804 shares, compared to its average volume of 3,508,958. The company has a current ratio of 3.42, a quick ratio of 3.36 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $99.86 and a 200 day moving average of $93.57. The company has a market cap of $40.26 billion, a P/E ratio of -8.47 and a beta of 1.62. Moderna, Inc. has a 1 year low of $62.55 and a 1 year high of $163.24.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, February 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $1.33. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Moderna had a negative return on equity of 10.23% and a negative net margin of 68.84%. The firm’s quarterly revenue was down 44.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.61 EPS. Sell-side analysts expect that Moderna, Inc. will post -7.48 earnings per share for the current year.

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.