Analysts Set Moderna, Inc. (NASDAQ:MRNA) Target Price at $58.70

Shares of Moderna, Inc. (NASDAQ:MRNA - Get Free Report) have been given an average rating of "Hold" by the twenty-four ratings firms that are presently covering the firm, Marketbeat reports. Four 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 issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $58.70.

A number of research firms have recently commented on MRNA. JPMorgan Chase & Co. dropped their price objective on Moderna from $40.00 to $33.00 and set an "underweight" rating for the company in a report on Friday, March 21st. Evercore ISI set a $50.00 target price on Moderna in a report on Friday, February 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $40.00 price target on shares of Moderna in a report on Tuesday, February 18th. Morgan Stanley dropped their price objective on shares of Moderna from $39.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group decreased their price target on shares of Moderna from $96.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th.

Moderna Stock Up 1.7 %

Shares of MRNA stock traded up $0.41 during trading hours on Thursday, hitting $25.13. 6,858,667 shares of the company were exchanged, compared to its average volume of 7,286,545. Moderna has a 1 year low of $23.15 and a 1 year high of $170.47. The firm has a fifty day moving average of $30.73 and a 200 day moving average of $39.25. The firm has a market cap of $9.72 billion, a PE ratio of -2.71 and a beta of 2.23.

Institutional Investors Weigh In On Moderna

Several institutional investors and hedge funds have recently made changes to their positions in MRNA. Orion Portfolio Solutions LLC lifted its position in shares of Moderna by 65.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,661 shares of the company's stock worth $245,000 after buying an additional 1,443 shares during the last quarter. Inspire Trust Co. N.A. grew its holdings in shares of Moderna by 73.5% during the third quarter. Inspire Trust Co. N.A. now owns 16,525 shares of the company's stock valued at $1,104,000 after purchasing an additional 7,000 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Moderna by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 379,451 shares of the company's stock worth $25,359,000 after purchasing an additional 15,218 shares during the last quarter. GAMMA Investing LLC boosted its position in Moderna by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 3,173 shares of the company's stock valued at $132,000 after purchasing an additional 768 shares during the period. Finally, Douglas Lane & Associates LLC increased its position in Moderna by 62.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 773,804 shares of the company's stock worth $32,175,000 after buying an additional 298,715 shares during the period. 75.33% of the stock is owned by institutional investors and hedge funds.

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.