Moderna (NASDAQ:MRNA) Downgraded by Royal Bank of Canada to Sector Perform

Royal Bank of Canada downgraded shares of Moderna (NASDAQ:MRNA) from an outperform rating to a sector perform rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $90.00 target price on the stock, down from their previous target price of $125.00.

MRNA has been the subject of several other research reports. Jefferies Financial Group restated a buy rating and issued a $125.00 target price on shares of Moderna in a report on Tuesday, April 9th. William Blair restated a market perform rating on shares of Moderna in a research note on Thursday, June 27th. Evercore ISI reaffirmed an in-line rating and set a $120.00 price objective on shares of Moderna in a report on Thursday, June 27th. Piper Sandler reissued an overweight rating and issued a $157.00 target price (down from $214.00) on shares of Moderna in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a hold rating on shares of Moderna in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Moderna currently has a consensus rating of Hold and an average target price of $124.21.

Moderna Stock Up 3.4 %

Shares of NASDAQ MRNA opened at $84.32 on Monday. The business has a 50-day moving average of $125.41 and a two-hundred day moving average of $114.75. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of -5.38 and a beta of 1.67. Moderna has a 1 year low of $62.55 and a 1 year high of $170.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.91.

Moderna (NASDAQ:MRNA) last posted its earnings results 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 firm had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The firm’s revenue was down 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.62) earnings per share. On average, analysts forecast that Moderna will post -7.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Moderna news, CFO James M. Mock sold 648 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $162.47, for a total value of $105,280.56. Following the transaction, the chief financial officer now directly owns 5,726 shares of the company’s stock, valued at approximately $930,303.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Stephen Hoge sold 341 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $144.50, for a total transaction of $49,274.50. Following the completion of the transaction, the president now directly owns 1,471,777 shares of the company’s stock, valued at approximately $212,671,776.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James M. Mock sold 648 shares of Moderna stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $162.47, for a total value of $105,280.56. Following the completion of the sale, the chief financial officer now owns 5,726 shares in the company, valued at $930,303.22. The disclosure for this sale can be found here. Insiders sold a total of 380,984 shares of company stock valued at $53,707,892 over the last three months. 15.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Moderna

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cedar Wealth Management LLC grew its stake in shares of Moderna by 45.0% during the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after purchasing an additional 90 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in Moderna by 1.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock worth $660,000 after buying an additional 93 shares during the period. CVA Family Office LLC increased its holdings in Moderna by 21.6% in the second quarter. CVA Family Office LLC now owns 541 shares of the company’s stock valued at $64,000 after buying an additional 96 shares in the last quarter. Allworth Financial LP lifted its position in shares of Moderna by 6.5% during the 4th quarter. Allworth Financial LP now owns 1,660 shares of the company’s stock valued at $165,000 after acquiring an additional 101 shares during the period. Finally, Principle Wealth Partners LLC boosted its stake in shares of Moderna by 4.3% during the 1st quarter. Principle Wealth Partners LLC now owns 2,497 shares of the company’s stock worth $266,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.