Brokerages Set Moderna, Inc. (NASDAQ:MRNA) PT at $32.33

Moderna, Inc. (NASDAQ:MRNA) has been given an average rating of “Reduce” by the twenty brokerages that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $32.3333.

A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Moderna from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Jefferies Financial Group set a $37.00 price target on Moderna and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. The Goldman Sachs Group boosted their price target on Moderna from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Evercore set a $35.00 price objective on Moderna in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada increased their price objective on Moderna from $25.00 to $30.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th.

Moderna Stock Performance

NASDAQ:MRNA opened at $53.39 on Friday. The company has a current ratio of 3.29, a quick ratio of 3.22 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $21.09 billion, a P/E ratio of -7.34 and a beta of 1.29. The firm has a 50-day moving average price of $45.12 and a two-hundred day moving average price of $33.00. Moderna has a twelve month low of $22.28 and a twelve month high of $59.55.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings results on Friday, February 13th. The company reported ($2.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.79) by $0.68. The company had revenue of $678.00 million for the quarter, compared to the consensus estimate of $611.14 million. Moderna had a negative net margin of 145.16% and a negative return on equity of 30.15%. The company’s revenue for the quarter was down 33.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.91) earnings per share. As a group, research analysts expect that Moderna will post -9.61 earnings per share for the current fiscal year.

Insider Transactions at Moderna

In other Moderna news, President Stephen Hoge sold 160,009 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $48.84, for a total transaction of $7,814,839.56. Following the sale, the president directly owned 1,457,427 shares of the company’s stock, valued at $71,180,734.68. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment LLC raised its holdings in Moderna by 94.1% in the 2nd quarter. Rothschild Investment LLC now owns 920 shares of the company’s stock valued at $25,000 after acquiring an additional 446 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Moderna during the 2nd quarter worth $26,000. MUFG Securities EMEA plc acquired a new stake in shares of Moderna during the second quarter worth $28,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Moderna in the fourth quarter valued at $31,000. Finally, Ameriflex Group Inc. grew its position in shares of Moderna by 3,775.0% in the third quarter. Ameriflex Group Inc. now owns 1,240 shares of the company’s stock valued at $32,000 after purchasing an additional 1,208 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.

About Moderna

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.