Moderna (NASDAQ:MRNA) Price Target Lowered to $33.00 at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA - Get Free Report) had its target price reduced by research analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 3.02% from the stock's previous close.

Several other equities analysts have also recently weighed in on MRNA. Citigroup started coverage on Moderna in a research report on Thursday, March 13th. They issued a "neutral" rating and a $40.00 price target for the company. Morgan Stanley cut their price objective on shares of Moderna from $70.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. Bank of America dropped their price target on Moderna from $41.00 to $34.00 and set an "underperform" rating for the company in a research note on Tuesday, February 11th. Finally, Berenberg Bank raised their price objective on Moderna from $33.00 to $42.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $59.00.

Remove Ads

Moderna Price Performance

Shares of Moderna stock traded down $0.14 on Friday, reaching $34.03. 889,855 shares of the company traded hands, compared to its average volume of 6,643,128. Moderna has a 52 week low of $29.25 and a 52 week high of $170.47. The company has a 50 day moving average of $34.89 and a 200 day moving average of $45.39. The firm has a market capitalization of $13.16 billion, a PE ratio of -3.67 and a beta of 1.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB lifted its holdings in Moderna by 295.0% during 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 in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Moderna by 286.2% during the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company's stock valued at $37,000 after buying an additional 664 shares in the last quarter. Compass Planning Associates Inc bought a new position in Moderna in the 4th quarter worth $37,000. Crowley Wealth Management Inc. purchased a new stake in shares of Moderna during the fourth quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. increased its holdings in Moderna by 51.2% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company's stock valued at $42,000 after acquiring an additional 343 shares during the last quarter. Institutional investors own 75.33% of the company's stock.

Moderna Company 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.