Pictet Asset Management Holding SA Acquires 1,113,455 Shares of Moderna, Inc. (NASDAQ:MRNA)

Pictet Asset Management Holding SA raised its stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 170.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,766,398 shares of the company's stock after purchasing an additional 1,113,455 shares during the period. Pictet Asset Management Holding SA owned 0.46% of Moderna worth $73,447,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MRNA. Allworth Financial LP boosted its holdings in Moderna by 17.3% in the fourth quarter. Allworth Financial LP now owns 1,901 shares of the company's stock valued at $73,000 after acquiring an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its position in shares of Moderna by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 9,994 shares of the company's stock worth $416,000 after buying an additional 297 shares during the period. Larson Financial Group LLC lifted its holdings in Moderna by 53.5% in the third quarter. Larson Financial Group LLC now owns 910 shares of the company's stock valued at $61,000 after buying an additional 317 shares during the period. Commonwealth Equity Services LLC boosted its position in Moderna by 0.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 74,520 shares of the company's stock valued at $3,099,000 after acquiring an additional 345 shares during the last quarter. Finally, New Insight Wealth Advisors grew its holdings in Moderna by 4.4% during the 4th quarter. New Insight Wealth Advisors now owns 8,545 shares of the company's stock worth $355,000 after acquiring an additional 358 shares during the period. Institutional investors own 75.33% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently commented on MRNA shares. Barclays cut Moderna from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $111.00 to $45.00 in a research note on Tuesday, February 18th. Leerink Partners lowered their price objective on shares of Moderna from $31.00 to $27.00 and set an "underweight" rating for the company in a research note on Thursday, January 16th. Argus cut shares of Moderna from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Royal Bank of Canada restated a "sector perform" rating and set a $40.00 price objective on shares of Moderna in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lowered shares of Moderna from a "buy" rating to a "neutral" rating and decreased their price target for the company from $99.00 to $51.00 in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $59.00.

Moderna Price Performance

Shares of MRNA traded up $0.62 during mid-day trading on Wednesday, hitting $27.78. The stock had a trading volume of 10,415,644 shares, compared to its average volume of 11,615,063. The firm has a market cap of $10.74 billion, a P/E ratio of -2.99 and a beta of 1.86. Moderna, Inc. has a 52 week low of $26.26 and a 52 week high of $170.47. The business has a fifty day moving average price of $34.43 and a 200-day moving average price of $43.55.

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.