TB Alternative Assets Ltd. Sells 602,072 Shares of Moderna, Inc. $MRNA

TB Alternative Assets Ltd. decreased its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 47.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,881 shares of the company’s stock after selling 602,072 shares during the period. Moderna makes up approximately 2.5% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 14th biggest position. TB Alternative Assets Ltd. owned 0.17% of Moderna worth $17,019,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Moderna during the second quarter valued at approximately $94,910,000. Federated Hermes Inc. raised its holdings in shares of Moderna by 364.5% during the 2nd quarter. Federated Hermes Inc. now owns 2,869,271 shares of the company’s stock worth $79,163,000 after acquiring an additional 2,251,497 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Moderna by 19.1% during the 2nd quarter. Geode Capital Management LLC now owns 8,877,280 shares of the company’s stock valued at $244,458,000 after acquiring an additional 1,420,690 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Moderna by 3.2% in the second quarter. Vanguard Group Inc. now owns 41,708,705 shares of the company’s stock valued at $1,150,743,000 after purchasing an additional 1,312,192 shares in the last quarter. Finally, Invesco Ltd. increased its position in Moderna by 20.7% in the second quarter. Invesco Ltd. now owns 7,101,032 shares of the company’s stock worth $195,917,000 after purchasing an additional 1,217,408 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $31.20 on Friday. Moderna, Inc. has a 1 year low of $22.28 and a 1 year high of $48.92. The firm has a 50-day simple moving average of $27.00 and a two-hundred day simple moving average of $27.39. The company has a market cap of $12.19 billion, a P/E ratio of -3.87 and a beta of 1.11.

Moderna (NASDAQ:MRNA) last released its earnings results on Thursday, November 6th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $893.29 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was down 45.4% on a year-over-year basis. As a group, equities research analysts expect that Moderna, Inc. will post -9.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on MRNA shares. Wolfe Research reiterated an “underperform” rating and set a $17.00 price objective on shares of Moderna in a research report on Thursday, November 20th. Bank of America lowered their price target on shares of Moderna from $24.00 to $21.00 and set an “underperform” rating for the company in a report on Monday, November 10th. UBS Group reissued a “buy” rating on shares of Moderna in a research note on Friday, November 21st. Citigroup decreased their price objective on Moderna from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, Morgan Stanley lowered their price objective on Moderna from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Moderna presently has a consensus rating of “Reduce” and an average price target of $29.21.

Insider Buying and Selling

In other Moderna news, Director Noubar Afeyan sold 23,853 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.48, for a total value of $703,186.44. Following the sale, the director owned 3,924 shares in the company, valued at $115,679.52. This trade represents a 85.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.90% of the stock is owned by company 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.