Moderna (NASDAQ:MRNA) Sets New 12-Month Low – Here’s What Happened

Moderna, Inc. (NASDAQ:MRNA)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $26.80 and last traded at $28.35, with a volume of 20439330 shares traded. The stock had previously closed at $31.12.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MRNA shares. Argus cut shares of Moderna from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Evercore ISI set a $50.00 price target on shares of Moderna in a research report on Friday, February 14th. Berenberg Bank lifted their price objective on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Morgan Stanley lowered their target price on Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, Bank of America cut their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Stock Performance

The stock’s fifty day simple moving average is $34.21 and its two-hundred day simple moving average is $43.44. The company has a market cap of $10.72 billion, a price-to-earnings ratio of -2.99 and a beta of 1.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Moderna in the 4th quarter worth about $163,833,000. Voloridge Investment Management LLC increased its position in Moderna by 335.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock worth $107,727,000 after purchasing an additional 1,996,003 shares in the last quarter. State Street Corp raised its holdings in Moderna by 12.1% in the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after buying an additional 1,823,276 shares during the period. FMR LLC lifted its position in Moderna by 7.4% during the fourth quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after buying an additional 1,282,469 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Moderna by 170.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock worth $73,447,000 after buying an additional 1,113,455 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.