Brokerages Set Moderna, Inc. (NASDAQ:MRNA) PT at $29.21

Shares of Moderna, Inc. (NASDAQ:MRNA) have earned a consensus rating of “Reduce” from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $29.2143.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Moderna from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, October 23rd. Berenberg Bank set a $28.00 price objective on shares of Moderna in a report on Monday, November 17th. Morgan Stanley reduced their price objective on shares of Moderna from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Moderna in a research report on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating on shares of Moderna in a research report on Friday, November 21st.

Moderna Price Performance

NASDAQ:MRNA opened at $32.73 on Tuesday. The company has a market capitalization of $12.79 billion, a P/E ratio of -4.06 and a beta of 1.11. The business has a fifty day simple moving average of $26.89 and a two-hundred day simple moving average of $27.37. Moderna has a 1 year low of $22.28 and a 1 year high of $48.92.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($2.15) by $1.64. Moderna had a negative return on equity of 29.81% and a negative net margin of 139.61%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $893.29 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s quarterly revenue was down 45.4% compared to the same quarter last year. As a group, analysts anticipate that Moderna will post -9.61 earnings per share for the current year.

Insider Buying and Selling at Moderna

In other news, Director Noubar Afeyan sold 23,853 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.48, for a total value of $703,186.44. Following the sale, the director directly owned 3,924 shares of the company’s stock, valued at approximately $115,679.52. This represents a 85.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Moderna

Institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC grew its position in shares of Moderna by 94.1% during the 2nd quarter. Rothschild Investment LLC now owns 920 shares of the company’s stock valued at $25,000 after purchasing an additional 446 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Moderna by 348.8% during the second quarter. TD Private Client Wealth LLC now owns 956 shares of the company’s stock valued at $26,000 after buying an additional 743 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Moderna during the second quarter worth about $26,000. SVB Wealth LLC purchased a new position in Moderna during the first quarter worth about $28,000. Finally, Whittier Trust Co. bought a new position in Moderna in the 2nd quarter worth about $28,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

About Moderna

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.