Norges Bank Acquires New Shares in Moderna, Inc. (NASDAQ:MRNA)

Norges Bank purchased a new stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,940,194 shares of the company's stock, valued at approximately $163,833,000. Norges Bank owned about 1.02% of Moderna 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. Cerity Partners LLC grew its stake in Moderna by 7.0% in the third quarter. Cerity Partners LLC now owns 13,769 shares of the company's stock valued at $920,000 after acquiring an additional 900 shares during the period. Quantbot Technologies LP acquired a new stake in Moderna during the 3rd quarter worth approximately $150,000. Townsquare Capital LLC boosted its holdings in shares of Moderna by 42.7% in the third quarter. Townsquare Capital LLC now owns 5,288 shares of the company's stock valued at $353,000 after buying an additional 1,583 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Moderna by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,774 shares of the company's stock worth $10,544,000 after acquiring an additional 23,631 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Moderna by 18.0% during the third quarter. Public Sector Pension Investment Board now owns 16,380 shares of the company's stock worth $1,095,000 after acquiring an additional 2,500 shares during the period. 75.33% of the stock is owned by institutional investors.

Moderna Stock Performance

Shares of NASDAQ MRNA traded up $0.56 during midday trading on Wednesday, reaching $27.72. The company's stock had a trading volume of 11,792,223 shares, compared to its average volume of 6,943,608. The company has a market cap of $10.72 billion, a P/E ratio of -2.99 and a beta of 1.86. Moderna, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $170.47. The business's 50 day moving average price is $34.43 and its two-hundred day moving average price is $43.55.

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Wall Street Analysts Forecast Growth

MRNA has been the subject of several recent research reports. The Goldman Sachs Group cut shares of Moderna from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Moderna from $40.00 to $33.00 and set an "underweight" rating on the stock in a research report on Friday, March 21st. Morgan Stanley reduced their price target on Moderna from $70.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 15th. Citigroup initiated coverage on Moderna in a research note on Thursday, March 13th. They issued a "neutral" rating and a $40.00 price target for the company. Finally, Bank of America dropped their price objective on Moderna from $41.00 to $34.00 and set an "underperform" rating on the stock in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $59.00.

Moderna Company Profile

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.