Prudential Financial Inc. Sells 24,663 Shares of Moderna, Inc. (NASDAQ:MRNA)

Prudential Financial Inc. lowered its stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,129 shares of the company's stock after selling 24,663 shares during the quarter. Prudential Financial Inc.'s holdings in Moderna were worth $7,755,000 as of its most recent SEC filing.

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

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Moderna Price Performance

NASDAQ MRNA traded down $1.19 during trading hours on Tuesday, reaching $27.16. 11,625,208 shares of the stock traded hands, compared to its average volume of 6,890,868. The stock has a 50 day simple moving average of $34.60 and a two-hundred day simple moving average of $43.84. Moderna, Inc. has a 1 year low of $26.80 and a 1 year high of $170.47. The company has a market cap of $10.50 billion, a price-to-earnings ratio of -2.93 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MRNA shares. Berenberg Bank boosted their price objective on Moderna from $33.00 to $42.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $40.00 price target on shares of Moderna in a research report on Tuesday, February 18th. The Goldman Sachs Group downgraded shares of Moderna from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. Bank of America lowered their target price on shares of Moderna from $41.00 to $34.00 and set an "underperform" rating on the stock in a report on Tuesday, February 11th. Finally, Citigroup began coverage on Moderna in a report on Thursday, March 13th. They issued a "neutral" rating and a $40.00 price target for the company. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Moderna has an average 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.