Fifth Third Bancorp Has $3.06 Million Stake in Moderna, Inc. $MRNA

Fifth Third Bancorp grew its position in Moderna, Inc. (NASDAQ:MRNA) by 157.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 60,341 shares of the company’s stock after buying an additional 36,912 shares during the period. Fifth Third Bancorp’s holdings in Moderna were worth $3,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MUFG Securities EMEA plc acquired a new position in shares of Moderna during the 2nd quarter worth about $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Moderna during the fourth quarter worth $31,000. Canton Hathaway LLC bought a new position in Moderna during the 1st quarter worth about $31,000. Cromwell Holdings LLC lifted its holdings in shares of Moderna by 39.7% in the fourth quarter. Cromwell Holdings LLC now owns 1,200 shares of the company’s stock valued at $35,000 after purchasing an additional 341 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Moderna by 148.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the company’s stock valued at $37,000 after purchasing an additional 801 shares in the last quarter. 75.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MRNA. The Goldman Sachs Group upped their price target on Moderna from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Piper Sandler lifted their price objective on shares of Moderna from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Jefferies Financial Group reissued a “hold” rating on shares of Moderna in a research report on Thursday, June 18th. Barclays increased their target price on shares of Moderna from $25.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 2nd. Finally, Morgan Stanley lifted their target price on Moderna from $33.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $38.80.

Insiders Place Their Bets

In other news, insider Shannon Thyme Klinger sold 3,471 shares of Moderna stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $173,550.00. Following the completion of the transaction, the insider directly owned 67,468 shares in the company, valued at approximately $3,373,400. The trade was a 4.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Abbas Hussain sold 5,682 shares of Moderna stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $46.63, for a total value of $264,951.66. Following the transaction, the director owned 12,066 shares of the company’s stock, valued at $562,637.58. This 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. Insiders sold 125,088 shares of company stock worth $6,193,713 in the last three months. 10.80% of the stock is owned by corporate insiders.

Moderna Stock Performance

Shares of MRNA opened at $59.49 on Tuesday. The firm has a 50-day moving average of $58.00 and a 200-day moving average of $51.15. Moderna, Inc. has a one year low of $22.28 and a one year high of $85.60. The company has a market cap of $23.61 billion, a PE ratio of -7.30 and a beta of 0.94. 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 (NASDAQ:MRNA) last issued its earnings results on Friday, May 1st. The company reported ($3.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.02) by ($0.38). Moderna had a negative net margin of 143.55% and a negative return on equity of 26.64%. The firm had revenue of $389.00 million during the quarter, compared to the consensus estimate of $236.37 million. During the same period in the previous year, the company posted ($2.52) earnings per share. The firm’s revenue for the quarter was up 260.2% compared to the same quarter last year. As a group, equities analysts forecast that Moderna, Inc. will post -6.41 earnings per share for the current year.

Moderna Company 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.