Moderna (NASDAQ:MRNA) Reaches New 1-Year Low After Analyst Downgrade

Moderna, Inc. (NASDAQ:MRNA) hit a new 52-week low during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $70.00 to $59.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Moderna traded as low as $52.08 and last traded at $52.75, with a volume of 2452446 shares trading hands. The stock had previously closed at $53.54.

MRNA has been the subject of a number of other research reports. Jefferies Financial Group cut their target price on shares of Moderna from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, October 15th. UBS Group cut their price objective on shares of Moderna from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, October 24th. TD Cowen lowered their target price on shares of Moderna from $70.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Sanford C. Bernstein initiated coverage on Moderna in a report on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price target for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Moderna has a consensus rating of “Hold” and an average price target of $94.00.

Insider Buying and Selling

In other Moderna news, CFO James M. Mock sold 715 shares of Moderna stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the transaction, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James M. Mock sold 715 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the transaction, the chief financial officer now owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,184 shares of company stock worth $238,531 in the last 90 days. 15.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of Moderna during the 2nd quarter worth approximately $26,000. Family Firm Inc. bought a new stake in shares of Moderna during the second quarter valued at approximately $33,000. Cedar Wealth Management LLC grew its stake in Moderna by 45.0% in the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after purchasing an additional 90 shares during the period. Bank & Trust Co bought a new position in Moderna in the second quarter worth $36,000. Finally, Hanseatic Management Services Inc. purchased a new position in Moderna during the second quarter valued at $48,000. 75.33% of the stock is currently owned by institutional investors.

Moderna Price Performance

The firm has a 50-day simple moving average of $64.05 and a 200 day simple moving average of $100.65. The firm has a market cap of $20.35 billion, a PE ratio of -3.48 and a beta of 1.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92.

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.