Moderna (NASDAQ:MRNA) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Moderna (NASDAQ:MRNA) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a market perform rating and a $55.00 target price on the stock.

Several other research analysts also recently commented on the stock. Bank of America dropped their target price on shares of Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. TD Cowen cut their price objective on Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Evercore ISI reaffirmed an “in-line” rating and issued a $120.00 target price on shares of Moderna in a report on Thursday, June 27th. Leerink Partners cut their price target on Moderna from $60.00 to $48.00 and set an “underperform” rating for the company in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Moderna from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $97.18.

Moderna Stock Down 4.6 %

Moderna stock opened at $54.82 on Thursday. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05. Moderna has a 1-year low of $54.82 and a 1-year high of $170.47. The firm’s fifty day simple moving average is $71.36 and its 200-day simple moving average is $104.92. The company has a market capitalization of $21.01 billion, a P/E ratio of -3.50 and a beta of 1.66.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The company had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $128.41 million. During the same quarter in the previous year, the firm earned ($3.62) earnings per share. The business’s quarterly revenue was down 29.9% compared to the same quarter last year. Sell-side analysts forecast that Moderna will post -9.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the completion of the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Moderna news, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James M. Mock sold 715 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $60.12, for a total transaction of $42,985.80. Following the sale, the chief financial officer now directly owns 9,505 shares in the company, valued at $571,440.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,184 shares of company stock valued at $3,804,931. 15.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Moderna

Several large investors have recently made changes to their positions in MRNA. Ashton Thomas Private Wealth LLC bought a new stake in shares of Moderna during the second quarter worth approximately $26,000. Cedar Wealth Management LLC raised its position in shares of Moderna by 45.0% during the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after acquiring an additional 90 shares during the last quarter. Westside Investment Management Inc. acquired a new position in shares of Moderna in the 1st quarter valued at $32,000. Family Firm Inc. bought a new position in shares of Moderna in the 2nd quarter worth $33,000. Finally, Rise Advisors LLC grew its stake in shares of Moderna by 953.3% during the first quarter. Rise Advisors LLC now owns 316 shares of the company’s stock worth $34,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.