Moderna (NASDAQ:MRNA) Given New $34.00 Price Target at Bank of America

Moderna (NASDAQ:MRNA - Get Free Report) had its target price dropped by stock analysts at Bank of America from $41.00 to $34.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's target price would suggest a potential upside of 3.06% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley dropped their price objective on shares of Moderna from $70.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 15th. Wolfe Research initiated coverage on shares of Moderna in a report on Friday, November 15th. They issued an "underperform" rating and a $40.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Moderna in a report on Friday, November 8th. Hsbc Global Res raised shares of Moderna from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Finally, Sanford C. Bernstein initiated coverage on shares of Moderna in a report on Thursday, October 17th. They issued a "market perform" rating and a $55.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Moderna currently has a consensus rating of "Hold" and a consensus price target of $66.89.

Moderna Stock Performance

Shares of MRNA traded up $1.07 during trading hours on Tuesday, reaching $32.99. 25,297,536 shares of the company traded hands, compared to its average volume of 12,567,232. The stock has a market capitalization of $12.70 billion, a P/E ratio of -5.67 and a beta of 1.59. The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05. Moderna has a 12-month low of $29.25 and a 12-month high of $170.47. The business has a fifty day moving average price of $38.86 and a 200-day moving average price of $54.70.

Insider Buying and Selling

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the sale, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. This represents a 6.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,664 shares of company stock worth $115,210 in the last 90 days. Insiders own 15.70% of the company's stock.

Institutional Trading of Moderna

A number of hedge funds have recently bought and sold shares of MRNA. Wilmington Savings Fund Society FSB grew its stake in shares of Moderna by 295.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company's stock valued at $33,000 after buying an additional 587 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Moderna in the 4th quarter valued at approximately $37,000. Venturi Wealth Management LLC grew its stake in shares of 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 buying an additional 664 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of Moderna in the 4th quarter valued at approximately $41,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of 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 buying an additional 343 shares during the period. Institutional investors and hedge funds 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.