The Goldman Sachs Group Lowers Moderna (NASDAQ:MRNA) Price Target to $139.00

Moderna (NASDAQ:MRNA) had its price objective reduced by The Goldman Sachs Group from $178.00 to $139.00 in a research report sent to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts have also recently commented on the company. TD Cowen reduced their price target on Moderna from $70.00 to $60.00 and set a hold rating for the company in a research report on Friday, September 13th. HSBC raised Moderna from a reduce rating to a hold rating and set a $82.00 price objective for the company in a report on Wednesday, August 28th. Evercore ISI restated an in-line rating and set a $120.00 target price on shares of Moderna in a report on Thursday, June 27th. JPMorgan Chase & Co. cut shares of Moderna from a neutral rating to an underweight rating and cut their price target for the company from $88.00 to $70.00 in a research note on Friday, September 13th. Finally, William Blair reissued a market perform rating on shares of Moderna in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $100.44.

Moderna Price Performance

Shares of MRNA opened at $68.02 on Monday. The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.05. Moderna has a twelve month low of $62.55 and a twelve month high of $170.47. The stock has a market capitalization of $26.07 billion, a P/E ratio of -4.34 and a beta of 1.68. The company has a 50 day moving average of $91.19 and a 200-day moving average of $110.97.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.47) by $0.14. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The firm had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. During the same period in the previous year, the business earned ($3.62) EPS. The company’s revenue was down 29.9% compared to the same quarter last year. As a group, equities research analysts forecast that Moderna will post -9.52 EPS for the current fiscal year.

Insider Buying and Selling at Moderna

In other news, CFO James M. Mock sold 689 shares of Moderna stock in a transaction on Monday, July 8th. The stock was sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at $859,486.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $127.22, for a total transaction of $1,908,300.00. Following the transaction, the director now owns 2,284,015 shares in the company, valued at approximately $290,572,388.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James M. Mock sold 689 shares of Moderna stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at $859,486.56. The disclosure for this sale can be found here. Insiders have sold a total of 93,158 shares of company stock valued at $11,167,312 in the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Moderna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Moderna by 22.6% in the fourth quarter. Vanguard Group Inc. now owns 33,907,072 shares of the company’s stock valued at $3,372,058,000 after purchasing an additional 6,248,623 shares in the last quarter. Norges Bank bought a new stake in shares of Moderna during the 4th quarter worth approximately $347,565,000. Wellington Management Group LLP boosted its position in shares of Moderna by 28.8% during the 4th quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock worth $718,584,000 after acquiring an additional 1,614,460 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Moderna by 42.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,545,829 shares of the company’s stock valued at $164,724,000 after acquiring an additional 463,960 shares during the last quarter. Finally, Matrix Capital Management Company LP acquired a new position in Moderna during the fourth quarter valued at approximately $45,150,000. 75.33% of the stock is owned by institutional investors and hedge funds.

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.