Moderna, Inc. (NASDAQ:MRNA) Given Average Rating of “Hold” by Brokerages

Moderna, Inc. (NASDAQ:MRNA) has earned a consensus rating of “Hold” from the twenty-four research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $59.00.

MRNA has been the topic of a number of analyst reports. Morgan Stanley cut their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. decreased their price target on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating for the company in a report on Friday, March 21st. Berenberg Bank raised their price objective on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Evercore ISI set a $50.00 target price on Moderna in a research note on Friday, February 14th. Finally, Barclays lowered Moderna from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $111.00 to $45.00 in a research report on Tuesday, February 18th.

Hedge Funds Weigh In On Moderna

Several hedge funds and other institutional investors have recently made changes to their positions in MRNA. abrdn plc raised its holdings in shares of Moderna by 28.1% in the 4th quarter. abrdn plc now owns 315,912 shares of the company’s stock valued at $12,842,000 after purchasing an additional 69,360 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in shares of Moderna by 30.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 101,159 shares of the company’s stock worth $6,760,000 after acquiring an additional 23,881 shares during the period. Spire Wealth Management increased its stake in shares of Moderna by 2,150.4% during the fourth quarter. Spire Wealth Management now owns 23,224 shares of the company’s stock worth $966,000 after purchasing an additional 22,192 shares during the period. Citigroup Inc. lifted its holdings in Moderna by 30.5% during the 3rd quarter. Citigroup Inc. now owns 591,910 shares of the company’s stock worth $39,557,000 after purchasing an additional 138,378 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 purchasing an additional 178,115 shares during the period. 75.33% of the stock is owned by institutional investors.

Moderna Trading Down 3.1 %

NASDAQ MRNA opened at $31.12 on Friday. Moderna has a 12 month low of $29.25 and a 12 month high of $170.47. The stock has a 50-day simple moving average of $34.72 and a 200 day simple moving average of $44.38. The company has a market capitalization of $12.03 billion, a PE ratio of -3.35 and a beta of 1.86.

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.