Moderna (NASDAQ:MRNA) Stock Price Down 6.3% – Here’s Why

Moderna, Inc. (NASDAQ:MRNA) was down 6.3% during mid-day trading on Tuesday . The stock traded as low as $34.08 and last traded at $33.69. Approximately 1,468,336 shares were traded during trading, a decline of 88% from the average daily volume of 12,428,438 shares. The stock had previously closed at $35.96.

Wall Street Analyst Weigh In

Several research analysts have commented on MRNA shares. Bank of America lowered their price target on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, February 11th. Piper Sandler restated an “overweight” rating and issued a $69.00 target price (down previously from $115.00) on shares of Moderna in a report on Monday, November 18th. Argus lowered shares of Moderna from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. set a $45.00 price objective on Moderna in a report on Friday, February 14th. Finally, Berenberg Bank boosted their target price on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.63.

Moderna Stock Performance

The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of -3.55 and a beta of 1.86. The stock’s fifty day moving average is $36.53 and its two-hundred day moving average is $48.45.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Moderna by 7.4% during the fourth quarter. FMR LLC now owns 18,664,634 shares of the company’s stock worth $776,075,000 after buying an additional 1,282,469 shares in the last quarter. State Street Corp grew its holdings in Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after acquiring an additional 1,823,276 shares in the last quarter. Theleme Partners LLP increased its holdings in Moderna by 1.0% in the fourth quarter. Theleme Partners LLP now owns 7,306,861 shares of the company’s stock valued at $303,819,000 after buying an additional 72,028 shares during the last quarter. Geode Capital Management LLC raised its stake in Moderna by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company’s stock valued at $300,219,000 after buying an additional 171,774 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock worth $349,166,000 after buying an additional 906,114 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.