Patton Fund Management Inc. Has $4.49 Million Stake in Moderna, Inc. $MRNA

Patton Fund Management Inc. boosted its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 1,080.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,410 shares of the company’s stock after purchasing an additional 80,920 shares during the period. Moderna accounts for 0.8% of Patton Fund Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Patton Fund Management Inc.’s holdings in Moderna were worth $4,491,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new stake in shares of Moderna in the second quarter worth $28,000. Flagship Harbor Advisors LLC acquired a new position in Moderna during the fourth quarter valued at $31,000. Ameriflex Group Inc. raised its position in Moderna by 3,775.0% during the third quarter. Ameriflex Group Inc. now owns 1,240 shares of the company’s stock valued at $32,000 after buying an additional 1,208 shares during the period. Cromwell Holdings LLC lifted its stake in Moderna by 39.7% in the 4th quarter. Cromwell Holdings LLC now owns 1,200 shares of the company’s stock worth $35,000 after acquiring an additional 341 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Moderna by 148.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the company’s stock worth $37,000 after acquiring an additional 801 shares in the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Moderna from $32.00 to $34.00 and gave the stock an “underperform” rating in a research report on Monday, June 8th. Barclays upped their target price on Moderna from $25.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 2nd. Royal Bank Of Canada raised their price target on shares of Moderna from $35.00 to $38.00 and gave the stock a “sector perform” rating in a report on Monday, May 4th. The Goldman Sachs Group raised their price target on shares of Moderna from $43.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $33.00 price objective on shares of Moderna in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Moderna has a consensus rating of “Reduce” and an average target price of $37.13.

Key Moderna News

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna’s Science Day showcased an expanded pipeline that includes oncology, autoimmune disease, and next-generation mRNA programs, including a new in vivo CAR-T approach and T-cell engager candidates. Investors appear to be re-rating the stock on the prospect of multiple future commercial franchises beyond vaccines. Article
• Positive Sentiment: FDA advisory support for Moderna’s mRNA flu shot, mFlusiva, strengthened the case that its platform can win approvals outside COVID-19, potentially opening a second major commercial opportunity in respiratory vaccines for older adults. Article
• Positive Sentiment: Market commentary highlighted Moderna’s new cell therapy program and broader Science Day disclosures as the main reasons the stock is leading the market higher, with investors responding to signs that the company is building a more diversified biotech story. Article
• Neutral Sentiment: Additional coverage from Yahoo Finance and Seeking Alpha mainly recapped Moderna’s Science Day presentation and expanding mRNA platform, reinforcing the same positive narrative rather than adding a new standalone catalyst. Article Article
• Neutral Sentiment: One note on short interest reported unusual data showing zero shares, so it does not appear to be a meaningful driver of the move.

Moderna Stock Performance

Shares of NASDAQ MRNA opened at $67.27 on Monday. The business’s 50-day moving average price is $51.52 and its two-hundred day moving average price is $46.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.41 and a quick ratio of 2.35. Moderna, Inc. has a one year low of $22.28 and a one year high of $69.29. The company has a market capitalization of $26.69 billion, a P/E ratio of -8.25 and a beta of 1.05.

Moderna (NASDAQ:MRNA) last issued its earnings results on Friday, May 1st. The company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of ($3.02) by ($0.38). Moderna had a negative return on equity of 26.64% and a negative net margin of 143.55%.The firm had revenue of $389.00 million during the quarter, compared to analyst estimates of $236.37 million. During the same period in the previous year, the company earned ($2.52) earnings per share. The business’s revenue for the quarter was up 260.2% on a year-over-year basis. Analysts anticipate that Moderna, Inc. will post -6.51 earnings per share for the current fiscal year.

Insider Transactions at Moderna

In other Moderna news, Director Noubar Afeyan sold 9,263 shares of Moderna stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $46.84, for a total value of $433,878.92. Following the completion of the sale, the director directly owned 3,924 shares in the company, valued at $183,800.16. The trade was a 70.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abbas Hussain sold 5,682 shares of Moderna stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $46.63, for a total transaction of $264,951.66. Following the completion of the sale, the director owned 12,066 shares of the company’s stock, valued at $562,637.58. This trade represents a 32.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 125,088 shares of company stock worth $6,193,713. 10.80% of the stock is owned by corporate insiders.

Moderna Profile

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.