Bank of America Lowers Moderna (NASDAQ:MRNA) Price Target to $21.00

Moderna (NASDAQ:MRNA) had its price objective cut by equities researchers at Bank of America from $24.00 to $21.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price objective would indicate a potential downside of 14.43% from the stock’s previous close.

Several other equities research analysts also recently weighed in on MRNA. Wells Fargo & Company reissued an “equal weight” rating on shares of Moderna in a research report on Sunday, July 13th. UBS Group cut their target price on Moderna from $70.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Moderna in a report on Wednesday, October 8th. Barclays decreased their price target on Moderna from $31.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Citigroup dropped their price objective on Moderna from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Moderna has a consensus rating of “Hold” and an average target price of $36.14.

Moderna Price Performance

Shares of NASDAQ:MRNA opened at $24.54 on Monday. The business has a fifty day moving average price of $25.81 and a 200-day moving average price of $27.14. The company has a market capitalization of $9.59 billion, a PE ratio of -3.04 and a beta of 2.02. Moderna has a 1-year low of $23.04 and a 1-year high of $50.90.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($2.15) by $1.64. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $893.29 million. Moderna had a negative net margin of 139.61% and a negative return on equity of 29.81%. Moderna’s revenue for the quarter was down 45.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Moderna has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Moderna will post -9.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRNA. S Bank Fund Management Ltd bought a new stake in Moderna during the 1st quarter worth approximately $25,000. Rothschild Investment LLC increased its stake in shares of Moderna by 94.1% in the second quarter. Rothschild Investment LLC now owns 920 shares of the company’s stock worth $25,000 after purchasing an additional 446 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Moderna by 348.8% in the second quarter. TD Private Client Wealth LLC now owns 956 shares of the company’s stock worth $26,000 after purchasing an additional 743 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Moderna during the 2nd quarter valued at $26,000. Finally, SVB Wealth LLC purchased a new position in shares of Moderna during the 1st quarter valued at $28,000. 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.