Moderna (NASDAQ:MRNA) PT Raised to $106.00

Moderna (NASDAQ:MRNA) had its price target increased by Canaccord Genuity Group from $91.00 to $106.00 in a report published on Friday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other analysts have also recently weighed in on MRNA. William Blair restated a market perform rating on shares of Moderna in a report on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of Moderna from $125.00 to $135.00 and gave the stock an outperform rating in a research note on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Moderna in a research note on Thursday, May 2nd. HSBC reaffirmed a reduce rating and issued a $86.00 price objective (up previously from $75.00) on shares of Moderna in a research note on Monday, February 26th. Finally, Jefferies Financial Group reaffirmed a buy rating and issued a $125.00 price objective on shares of Moderna in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Moderna has a consensus rating of Hold and an average price target of $129.55.

Moderna Price Performance

Shares of NASDAQ:MRNA opened at $122.13 on Friday. The firm’s 50 day moving average is $105.61 and its two-hundred day moving average is $94.76. Moderna has a 52 week low of $62.55 and a 52 week high of $142.79. The firm has a market capitalization of $46.81 billion, a P/E ratio of -7.79 and a beta of 1.57. The company has a current ratio of 4.03, a quick ratio of 3.91 and a debt-to-equity ratio of 0.04.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($3.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.59) by $0.52. The business had revenue of $167.00 million during the quarter, compared to analysts’ expectations of $93.26 million. Moderna had a negative net margin of 115.82% and a negative return on equity of 20.10%. The business’s revenue was down 91.0% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. Analysts anticipate that Moderna will post -7.47 earnings per share for the current year.

Insider Activity

In related news, CFO James M. Mock sold 647 shares of Moderna stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $94.57, for a total transaction of $61,186.79. Following the completion of the transaction, the chief financial officer now directly owns 4,300 shares of the company’s stock, valued at approximately $406,651. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Moderna news, insider Shannon Thyme Klinger sold 544 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $99.05, for a total value of $53,883.20. Following the completion of the transaction, the insider now directly owns 9,267 shares of the company’s stock, valued at $917,896.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James M. Mock sold 647 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $61,186.79. Following the completion of the transaction, the chief financial officer now directly owns 4,300 shares of the company’s stock, valued at $406,651. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,954 shares of company stock worth $14,822,576. Corporate insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Moderna

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its stake in shares of Moderna by 6.5% during the fourth quarter. Allworth Financial LP now owns 1,660 shares of the company’s stock worth $165,000 after buying an additional 101 shares during the last quarter. TIAA Trust National Association raised its stake in shares of Moderna by 2.3% during the fourth quarter. TIAA Trust National Association now owns 4,491 shares of the company’s stock worth $447,000 after buying an additional 102 shares during the last quarter. Principle Wealth Partners LLC raised its stake in shares of Moderna by 4.3% during the first quarter. Principle Wealth Partners LLC now owns 2,497 shares of the company’s stock worth $266,000 after buying an additional 102 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Moderna by 17.8% during the fourth quarter. Sound Income Strategies LLC now owns 762 shares of the company’s stock worth $76,000 after buying an additional 115 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Moderna by 32.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock worth $47,000 after buying an additional 116 shares during the last quarter. 75.33% of the stock is owned by institutional investors.

About Moderna

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.