JPMorgan Chase & Co. Lowers Moderna (NASDAQ:MRNA) Price Target to $45.00

Moderna (NASDAQ:MRNA) had its target price cut by research analysts at JPMorgan Chase & Co. from $59.00 to $45.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.85% from the company’s current price.

Several other equities analysts have also recently issued reports on MRNA. Bank of America dropped their target price on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Oppenheimer cut Moderna from an “outperform” rating to a “market perform” rating in a report on Friday, September 13th. Barclays decreased their price objective on Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. TD Cowen reduced 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. Finally, Berenberg Bank initiated coverage on shares of Moderna in a research note on Tuesday, November 19th. They issued a “hold” rating and a $42.00 target price for the company. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.26.

Moderna Price Performance

MRNA stock opened at $43.33 on Tuesday. The business’s 50-day moving average is $54.45 and its two-hundred day moving average is $93.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. Moderna has a 1 year low of $35.80 and a 1 year high of $170.47. The firm has a market capitalization of $16.67 billion, a P/E ratio of -7.45 and a beta of 1.69.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($1.89) by $1.92. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company earned ($1.39) EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Moderna will post -9.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Moderna

In related news, CFO James M. Mock sold 715 shares of Moderna 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 completion of the sale, the chief financial officer now owns 9,505 shares in the company, valued at approximately $571,440.60. The trade was a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,930 shares of company stock valued at $217,170 in the last ninety days. Insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRNA. Teachers Retirement System of The State of Kentucky lifted its position in shares of Moderna by 1.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 287,887 shares of the company’s stock worth $19,239,000 after purchasing an additional 3,978 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Moderna by 23.7% during the 3rd quarter. Toronto Dominion Bank now owns 131,477 shares of the company’s stock worth $8,787,000 after buying an additional 25,177 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Moderna by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock valued at $470,670,000 after acquiring an additional 178,115 shares during the last quarter. Groupama Asset Managment raised its position in shares of Moderna by 29.1% during the 3rd quarter. Groupama Asset Managment now owns 21,838 shares of the company’s stock valued at $1,459,000 after acquiring an additional 4,920 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Moderna by 1.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 114,335 shares of the company’s stock valued at $7,641,000 after buying an additional 1,635 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

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.