The Manufacturers Life Insurance Company Acquires 178,939 Shares of Moderna, Inc. (NASDAQ:MRNA)

The Manufacturers Life Insurance Company boosted its stake in Moderna, Inc. (NASDAQ:MRNA) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,073,934 shares of the company’s stock after acquiring an additional 178,939 shares during the period. The Manufacturers Life Insurance Company’s holdings in Moderna were worth $205,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Boston Family Office LLC boosted its stake in shares of Moderna by 83.8% during the 3rd quarter. Boston Family Office LLC now owns 9,342 shares of the company’s stock valued at $624,000 after purchasing an additional 4,258 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Moderna by 45.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 17,707 shares of the company’s stock worth $1,183,000 after purchasing an additional 5,544 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Moderna during the third quarter valued at $419,000. Daiwa Securities Group Inc. boosted its holdings in shares of Moderna by 18.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 70,191 shares of the company’s stock valued at $4,691,000 after buying an additional 10,960 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Moderna by 53.5% during the third quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock worth $61,000 after acquiring an additional 317 shares in the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Moderna Trading Down 3.7 %

Shares of MRNA stock opened at $42.05 on Wednesday. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $53.85 and a two-hundred day simple moving average of $92.62. Moderna, Inc. has a 52-week low of $35.80 and a 52-week high of $170.47.

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

Insiders Place Their Bets

In other Moderna news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the completion of the transaction, the chief financial officer now owns 9,505 shares in the company, valued at $571,440.60. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 1,609 shares of company stock worth $112,295 in the last 90 days. 15.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group dropped their target price on Moderna from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res raised shares of Moderna from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Sanford C. Bernstein began coverage on shares of Moderna in a research report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price target for the company. Leerink Partners cut their target price on Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Moderna in a research note on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.26.

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.