Moderna (NASDAQ:MRNA) Price Target Cut to $45.00 by Analysts at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its target price cut by JPMorgan Chase & Co. from $59.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other analysts also recently commented on MRNA. Deutsche Bank Aktiengesellschaft raised shares of Moderna from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $80.00 in a research report on Wednesday, August 7th. Barclays reduced their price target on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, November 8th. TD Cowen dropped their price objective 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. Hsbc Global Res upgraded Moderna from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Bank of America dropped their price target on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $83.26.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $42.05 on Tuesday. The company has a market capitalization of $16.18 billion, a PE ratio of -7.23 and a beta of 1.69. The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05. Moderna has a twelve month low of $35.80 and a twelve month high of $170.47. The firm has a fifty day simple moving average of $54.45 and a 200 day simple moving average of $93.15.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company posted ($1.39) EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Moderna will post -9.44 EPS for the current year.

Insider Activity at Moderna

In other Moderna news, CFO James M. Mock sold 715 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value 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 represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,609 shares of company stock valued at $112,295. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Moderna

A number of hedge funds and other institutional investors have recently made changes to their positions in MRNA. Lazard Asset Management LLC grew its position in shares of Moderna by 81.4% during the 1st quarter. Lazard Asset Management LLC now owns 10,171 shares of the company’s stock valued at $1,082,000 after acquiring an additional 4,563 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Moderna by 18.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,871 shares of the company’s stock worth $1,020,000 after buying an additional 1,549 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Moderna by 0.6% in the first quarter. California State Teachers Retirement System now owns 521,204 shares of the company’s stock valued at $55,539,000 after buying an additional 2,980 shares during the period. iA Global Asset Management Inc. lifted its position in shares of Moderna by 4.7% during the 1st quarter. iA Global Asset Management Inc. now owns 35,900 shares of the company’s stock valued at $3,826,000 after buying an additional 1,609 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Moderna during the 1st quarter worth $124,000. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.