Moderna (NASDAQ:MRNA) Shares Gap Down – Here’s Why

Moderna, Inc. (NASDAQ:MRNA)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $35.53, but opened at $33.88. Moderna shares last traded at $33.38, with a volume of 3,066,453 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group downgraded Moderna from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. JPMorgan Chase & Co. set a $45.00 price target on Moderna in a research note on Friday, February 14th. Piper Sandler reissued an “overweight” rating and set a $69.00 price objective (down previously from $115.00) on shares of Moderna in a research note on Monday, November 18th. Morgan Stanley cut their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, Evercore ISI set a $50.00 price target on shares of Moderna in a report on Friday, February 14th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Moderna has an average rating of “Hold” and an average target price of $60.63.

Moderna Trading Down 1.5 %

The stock has a market cap of $12.62 billion, a PE ratio of -3.57 and a beta of 1.59. The business has a fifty day simple moving average of $37.89 and a two-hundred day simple moving average of $52.10.

Insider Buying and Selling

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the sale, the insider now owns 19,717 shares of the company’s stock, valued at $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 2,664 shares of company stock valued at $115,210 over the last ninety days. Company insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Moderna

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Moderna by 365.6% in the 3rd quarter. Blue Trust Inc. now owns 731 shares of the company’s stock worth $49,000 after buying an additional 574 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after acquiring an additional 587 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Moderna by 286.2% in the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after acquiring an additional 664 shares during the last quarter. Compass Planning Associates Inc bought a new position in shares of Moderna during the fourth quarter valued at $37,000. Finally, Larson Financial Group LLC raised its position in shares of Moderna by 53.5% in the 3rd quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock worth $61,000 after purchasing an additional 317 shares during the last quarter. 75.33% of the stock is currently 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.