Moderna, Inc. (NASDAQ:MRNA) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 53.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 52,904 shares of the company’s stock after selling 60,918 shares during the quarter. CIBC Asset Management Inc’s holdings in Moderna were worth $2,200,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MRNA. State Street Corp raised its stake in shares of Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after acquiring an additional 1,823,276 shares during the period. Wellington Management Group LLP increased its holdings in Moderna by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after purchasing an additional 906,114 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Moderna in the third quarter valued at about $23,825,000. International Assets Investment Management LLC lifted its stake in shares of Moderna by 10,687.1% during the third quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock worth $21,353,000 after purchasing an additional 316,552 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in shares of Moderna by 62.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 773,804 shares of the company’s stock worth $32,175,000 after buying an additional 298,715 shares during the period. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Moderna

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $42.79, for a total value of $60,676.22. Following the sale, the insider now owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. This trade represents a 6.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,664 shares of company stock valued at $115,210 in the last quarter. Insiders own 15.70% of the company’s stock.

Moderna Price Performance

MRNA stock opened at $35.53 on Friday. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of -3.83 and a beta of 1.59. Moderna, Inc. has a 1-year low of $29.25 and a 1-year high of $170.47. The firm has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $53.20.

Analysts Set New Price Targets

Several brokerages recently commented on MRNA. JPMorgan Chase & Co. dropped their target price on Moderna from $59.00 to $45.00 and set an “underweight” rating on the stock in a report on Tuesday, November 26th. HSBC upgraded shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research note on Friday, November 8th. Bank of America lowered their price target on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, February 11th. Finally, Hsbc Global Res upgraded shares of Moderna from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Moderna currently has an average rating of “Hold” and a consensus target price of $60.63.

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.