Moderna, Inc. (NASDAQ:MRNA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,706 shares of the company's stock after selling 28,775 shares during the quarter. Corebridge Financial Inc.'s holdings in Moderna were worth $3,605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB grew its holdings in shares of Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company's stock valued at $33,000 after purchasing an additional 587 shares during the period. Venturi Wealth Management LLC boosted its holdings in Moderna by 286.2% in the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company's stock valued at $37,000 after purchasing an additional 664 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Moderna in the 4th quarter valued at approximately $37,000. Crowley Wealth Management Inc. acquired a new stake in shares of Moderna during the 4th quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Moderna by 58.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company's stock valued at $44,000 after buying an additional 389 shares during the period. 75.33% of the stock is owned by institutional investors and hedge funds.

Moderna Price Performance

Shares of MRNA traded down $0.62 during mid-day trading on Friday, reaching $25.11. The company's stock had a trading volume of 16,041,074 shares, compared to its average volume of 7,025,616. Moderna, Inc. has a 12-month low of $23.79 and a 12-month high of $170.47. The stock has a market cap of $9.71 billion, a PE ratio of -2.71 and a beta of 2.23. The company's 50 day moving average is $33.55 and its 200 day moving average is $43.01.

Analysts Set New Price Targets

Several research firms have issued reports on MRNA. Morgan Stanley cut their target price on Moderna from $70.00 to $38.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 15th. Berenberg Bank boosted their price objective on shares of Moderna from $33.00 to $42.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Citigroup assumed coverage on shares of Moderna in a research note on Thursday, March 13th. They set a "neutral" rating and a $40.00 target price for the company. Bank of America dropped their target price on shares of Moderna from $41.00 to $34.00 and set an "underperform" rating for the company in a report on Tuesday, February 11th. Finally, Leerink Partners decreased their price target on Moderna from $31.00 to $27.00 and set an "underweight" rating on the stock in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Moderna has a consensus rating of "Hold" and an average price target of $59.00.

Moderna 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.