Bank of America Cuts Moderna (NASDAQ:MRNA) Price Target to $34.00

Moderna (NASDAQ:MRNA - Get Free Report) had its price objective decreased by analysts at Bank of America from $41.00 to $34.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's target price would suggest a potential upside of 6.68% from the company's previous close.

Several other brokerages have also commented on MRNA. Argus lowered Moderna from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Hsbc Global Res upgraded Moderna from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 18th. HSBC upgraded shares of Moderna from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a research note on Monday, November 18th. Wolfe Research began coverage on shares of Moderna in a report on Friday, November 15th. They set an "underperform" rating and a $40.00 target price for the company. Finally, Evercore ISI dropped their price target on shares of Moderna from $60.00 to $50.00 and set an "in-line" rating on the stock in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $66.89.

Moderna Trading Down 2.2 %

NASDAQ:MRNA opened at $31.87 on Tuesday. The company has a market cap of $12.26 billion, a PE ratio of -5.48 and a beta of 1.59. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of $40.01 and a two-hundred day simple moving average of $57.38. Moderna has a 12 month low of $31.66 and a 12 month high of $170.47.

Insider Buying and Selling at Moderna

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the sale, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 2,664 shares of company stock valued at $115,210 in the last 90 days. Insiders own 15.70% of the company's stock.

Institutional Trading of Moderna

Several hedge funds have recently made changes to their positions in MRNA. State Street Corp lifted its stake in shares of Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company's stock valued at $1,125,899,000 after purchasing an additional 1,823,276 shares during the last quarter. Geode Capital Management LLC lifted its position in Moderna by 2.6% in the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company's stock worth $470,670,000 after buying an additional 178,115 shares during the last quarter. Wellington Management Group LLP lifted its position in Moderna by 21.0% in the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company's stock worth $349,166,000 after buying an additional 906,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Moderna by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company's stock worth $260,023,000 after buying an additional 19,819 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Moderna by 6.2% during the third quarter. The Manufacturers Life Insurance Company now owns 3,073,934 shares of the company's stock valued at $205,431,000 after acquiring an additional 178,939 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other 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.

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