Moderna (NASDAQ:MRNA) Price Target Cut to $59.00 by Analysts at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its price objective lowered by JPMorgan Chase & Co. from $70.00 to $59.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other research firms have also recently issued reports on MRNA. Bank of America lowered their target price on Moderna from $130.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Jefferies Financial Group lowered their target price on Moderna from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Tuesday, October 15th. Piper Sandler lowered their target price on Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. TD Cowen lowered their target price on Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $75.00 target price on shares of Moderna in a research note on Thursday, September 19th. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.00.

Moderna Stock Performance

Shares of NASDAQ:MRNA opened at $50.28 on Monday. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of -3.27 and a beta of 1.69. The firm’s 50 day simple moving average is $62.46 and its 200 day simple moving average is $99.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. Moderna has a fifty-two week low of $49.60 and a fifty-two week high of $170.47.

Insider Activity

In other news, CFO James M. Mock sold 1,321 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the sale, the chief financial officer now owns 8,600 shares of the company’s stock, valued at approximately $682,754. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO James M. Mock sold 1,321 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the sale, the chief financial officer now owns 8,600 shares of the company’s stock, valued at approximately $682,754. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,184 shares of company stock valued at $238,531. 15.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Moderna

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Moderna by 15.1% during the 1st quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock valued at $4,159,769,000 after purchasing an additional 5,129,800 shares during the last quarter. Capital World Investors lifted its holdings in shares of Moderna by 0.5% during the first quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock worth $388,743,000 after buying an additional 18,728 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of Moderna by 6.7% during the first quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock worth $204,230,000 after buying an additional 120,621 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Moderna by 11.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after buying an additional 167,596 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Moderna by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,427,300 shares of the company’s stock worth $169,542,000 after buying an additional 29,566 shares in the last quarter. 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.