CIBC Asset Management Inc Boosts Stock Position in Moderna, Inc. (NASDAQ:MRNA)

CIBC Asset Management Inc boosted its holdings in Moderna, Inc. (NASDAQ:MRNA) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,822 shares of the company’s stock after purchasing an additional 6,794 shares during the period. CIBC Asset Management Inc’s holdings in Moderna were worth $7,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Moderna in the second quarter valued at $26,000. Family Firm Inc. bought a new stake in shares of Moderna in the second quarter valued at $33,000. Bank & Trust Co bought a new stake in shares of Moderna in the second quarter valued at $36,000. Hanseatic Management Services Inc. bought a new stake in shares of Moderna in the second quarter valued at $48,000. Finally, Plato Investment Management Ltd raised its stake in shares of Moderna by 230.4% in the second quarter. Plato Investment Management Ltd now owns 413 shares of the company’s stock valued at $49,000 after buying an additional 288 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group lowered their target price on Moderna from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Barclays decreased their price objective on Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Oppenheimer lowered Moderna from an “outperform” rating to a “market perform” rating in a research note on Friday, September 13th. HSBC upgraded Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price objective on the stock in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group decreased their price objective on Moderna from $178.00 to $139.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Moderna presently has an average rating of “Hold” and an average price target of $90.22.

Moderna Price Performance

MRNA opened at $36.85 on Monday. The stock has a 50-day moving average price of $58.56 and a 200-day moving average price of $96.78. Moderna, Inc. has a 12-month low of $35.80 and a 12-month high of $170.47. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $14.18 billion, a P/E ratio of -6.33 and a beta of 1.69.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($1.89) by $1.92. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. Moderna’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.39) EPS. Equities analysts predict that Moderna, Inc. will post -9.43 earnings per share for the current fiscal year.

Insider Activity at Moderna

In related news, CFO James M. Mock sold 1,321 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the sale, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. This represents a 13.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 2,930 shares of company stock worth $217,170 in the last ninety days. 15.70% of the stock is owned by company insiders.

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.