Moderna (NASDAQ:MRNA) Coverage Initiated at Berenberg Bank

Berenberg Bank started coverage on shares of Moderna (NASDAQ:MRNA) in a research report released on Tuesday, MarketBeat.com reports. The brokerage issued a hold rating and a $42.00 price target on the stock.

A number of other brokerages have also weighed in on MRNA. Jefferies Financial Group lowered their price objective on Moderna from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Leerink Partners reduced their price objective on Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $75.00 price target on shares of Moderna in a report on Thursday, September 19th. Finally, HSBC raised shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.00.

Moderna Stock Down 5.6 %

Moderna stock opened at $37.29 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. Moderna has a fifty-two week low of $35.80 and a fifty-two week high of $170.47. The stock has a 50-day simple moving average of $57.82 and a 200-day simple moving average of $96.07. The company has a market capitalization of $14.35 billion, a P/E ratio of -6.41 and a beta of 1.69.

Moderna (NASDAQ:MRNA) last announced 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 net margin of 43.77% and a negative return on equity of 17.68%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned ($1.39) earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Moderna will post -9.43 earnings per share for the current year.

Insider Buying and Selling at Moderna

In other news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $60.12, for a total transaction of $42,985.80. Following the completion of the sale, the chief financial officer now owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Investors Weigh In On Moderna

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its position in shares of Moderna by 1.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 287,887 shares of the company’s stock worth $19,239,000 after acquiring an additional 3,978 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Moderna by 23.7% in the 3rd quarter. Toronto Dominion Bank now owns 131,477 shares of the company’s stock worth $8,787,000 after acquiring an additional 25,177 shares during the period. Geode Capital Management LLC increased its stake in shares of Moderna by 2.6% in the third 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. Groupama Asset Managment raised its stake in 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. lifted its holdings in Moderna by 1.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 114,335 shares of the company’s stock worth $7,641,000 after purchasing an additional 1,635 shares during the period. Institutional investors 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.