Patten & Patten Inc. TN Trims Stock Position in Moderna, Inc. (NASDAQ:MRNA)

Patten & Patten Inc. TN lowered its stake in shares of Moderna, Inc. (NASDAQ:MRNA) by 16.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,503 shares of the company’s stock after selling 1,510 shares during the period. Patten & Patten Inc. TN’s holdings in Moderna were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MRNA. State Street Corp raised its stake in shares of Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after buying an additional 1,823,276 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after buying an additional 906,114 shares during the last quarter. Amundi raised its stake in shares of Moderna by 79.8% during the 4th quarter. Amundi now owns 1,206,273 shares of the company’s stock valued at $52,075,000 after buying an additional 535,273 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Moderna during the 3rd quarter valued at about $23,825,000. Finally, Douglas Lane & Associates LLC raised its stake in shares of Moderna by 62.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 773,804 shares of the company’s stock valued at $32,175,000 after buying an additional 298,715 shares during the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MRNA. Barclays lowered Moderna from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $111.00 to $45.00 in a research note on Tuesday, February 18th. Evercore ISI set a $50.00 price target on Moderna in a research note on Friday, February 14th. Citigroup began coverage on Moderna in a research note on Thursday. They issued a “neutral” rating and a $40.00 price target for the company. Berenberg Bank lifted their price target on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, HSBC upgraded Moderna from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, November 18th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.60.

Moderna Price Performance

Shares of Moderna stock opened at $34.62 on Monday. The stock has a market cap of $13.36 billion, a P/E ratio of -3.73 and a beta of 1.86. The stock’s 50 day simple moving average is $35.94 and its 200-day simple moving average is $47.15. Moderna, Inc. has a 1-year low of $29.25 and a 1-year high of $170.47.

Moderna Company Profile

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.