Moderna, Inc. $MRNA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,691,205 shares of the company’s stock after selling 38,053 shares during the quarter. Bank of New York Mellon Corp’s holdings in Moderna were worth $85,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors acquired a new position in Moderna during the 4th quarter valued at about $378,299,000. Alyeska Investment Group L.P. acquired a new stake in Moderna in the fourth quarter worth about $95,209,000. Norges Bank purchased a new stake in shares of Moderna during the fourth quarter worth about $79,707,000. Invesco Ltd. grew its stake in shares of Moderna by 15.7% during the third quarter. Invesco Ltd. now owns 8,216,163 shares of the company’s stock worth $212,223,000 after acquiring an additional 1,115,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Moderna by 123.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,788,951 shares of the company’s stock valued at $52,775,000 after acquiring an additional 987,312 shares in the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on MRNA shares. Morgan Stanley lifted their target price on shares of Moderna from $33.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group upped their price target on shares of Moderna from $49.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Moderna in a report on Thursday, June 18th. Barclays boosted their price objective on shares of Moderna from $25.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 2nd. Finally, Piper Sandler upped their target price on Moderna from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $40.00.

Insider Buying and Selling at Moderna

In other Moderna news, insider Shannon Thyme Klinger sold 3,471 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $173,550.00. Following the sale, the insider directly owned 67,468 shares of the company’s stock, valued at approximately $3,373,400. This trade represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Noubar Afeyan sold 9,263 shares of Moderna stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $46.84, for a total value of $433,878.92. Following the transaction, the director owned 3,924 shares of the company’s stock, valued at $183,800.16. The trade was a 70.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 125,088 shares of company stock worth $6,193,713. 10.80% of the stock is currently owned by company insiders.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $59.66 on Wednesday. Moderna, Inc. has a 52 week low of $22.28 and a 52 week high of $85.60. The business’s 50 day moving average price is $58.13 and its 200 day moving average price is $51.36. The company has a quick ratio of 2.35, a current ratio of 2.41 and a debt-to-equity ratio of 0.08. The firm has a market cap of $23.67 billion, a P/E ratio of -7.32 and a beta of 0.94.

Moderna (NASDAQ:MRNA) last posted its quarterly 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 return on equity of 26.64% and a negative net margin of 143.55%.The business had revenue of $389.00 million for the quarter, compared to analysts’ expectations of $236.37 million. During the same period in the prior year, the business posted ($2.52) earnings per share. The business’s quarterly revenue was up 260.2% compared to the same quarter last year. On average, sell-side analysts expect 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.