Moderna (NASDAQ:MRNA) Shares Down 6.3% – Here’s Why

Moderna, Inc. (NASDAQ:MRNA) shares fell 6.3% on Tuesday . The company traded as low as $34.08 and last traded at $33.69. 1,468,336 shares traded hands during trading, a decline of 88% from the average session volume of 12,428,438 shares. The stock had previously closed at $35.96.

Analysts Set New Price Targets

A number of brokerages have weighed in on MRNA. Piper Sandler reiterated an “overweight” rating and set a $69.00 target price (down from $115.00) on shares of Moderna in a research note on Monday, November 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price objective on shares of Moderna in a research note on Tuesday, February 18th. JPMorgan Chase & Co. set a $45.00 price objective on Moderna in a research note on Friday, February 14th. Wolfe Research began coverage on Moderna in a research note on Friday, November 15th. They issued an “underperform” rating and a $40.00 price objective for the company. Finally, Citigroup began coverage on Moderna in a research note on Thursday. They issued a “neutral” rating and a $40.00 price objective for the company. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.60.

Moderna Trading Up 7.4 %

The stock has a market capitalization of $14.51 billion, a PE ratio of -4.01 and a beta of 1.86. The firm’s 50-day moving average price is $36.25 and its 200-day moving average price is $48.01.

Hedge Funds Weigh In On Moderna

Institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of 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 purchasing an additional 1,282,469 shares in the last quarter. State Street Corp grew its holdings in shares of Moderna by 12.1% during 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 last quarter. Theleme Partners LLP boosted its holdings in Moderna by 1.0% in the fourth quarter. Theleme Partners LLP now owns 7,306,861 shares of the company’s stock valued at $303,819,000 after purchasing an additional 72,028 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Moderna by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company’s stock valued at $300,219,000 after purchasing an additional 171,774 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Moderna by 21.0% in the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock worth $349,166,000 after acquiring an additional 906,114 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.