UBS Group Lowers Moderna (NASDAQ:MRNA) Price Target to $78.00

Moderna (NASDAQ:MRNA - Free Report) had its target price lowered by UBS Group from $96.00 to $78.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

MRNA has been the subject of a number of other reports. Barclays downgraded shares of Moderna from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $111.00 to $45.00 in a research note on Tuesday. Leerink Partners cut their price objective on shares of Moderna from $31.00 to $27.00 and set an "underweight" rating for the company in a research report on Thursday, January 16th. HSBC upgraded Moderna from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a report on Monday, November 18th. The Goldman Sachs Group cut Moderna from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. Finally, Piper Sandler restated an "overweight" rating and set a $69.00 price objective (down previously from $115.00) on shares of Moderna in a report on Monday, November 18th. Four analysts have rated the stock with a sell rating, fifteen have issued 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 a consensus rating of "Hold" and a consensus target price of $60.63.

Moderna Price Performance

MRNA stock traded up $1.79 during trading hours on Wednesday, reaching $35.52. 19,370,817 shares of the stock were exchanged, compared to its average volume of 13,052,883. The firm's 50-day moving average is $38.17 and its 200-day moving average is $53.20. Moderna has a 12 month low of $29.25 and a 12 month high of $170.47. The company has a market cap of $13.67 billion, a price-to-earnings ratio of -3.83 and a beta of 1.59.

Insider Buying and Selling

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the sale, the insider now owns 19,717 shares of the company's stock, valued at approximately $843,690.43. This represents a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 2,664 shares of company stock valued at $115,210 over the last 90 days. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Moderna

Several institutional investors have recently made changes to their positions in the stock. Forum Financial Management LP acquired a new position in shares of Moderna during the fourth quarter valued at about $225,000. Blue Sky Capital Consultants Group Inc. acquired a new position in shares of Moderna during the fourth quarter valued at about $606,000. GF Fund Management CO. LTD. acquired a new position in shares of Moderna during the fourth quarter valued at about $372,000. Vega Investment Solutions acquired a new stake in shares of Moderna in the 4th quarter worth about $45,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Moderna in the 4th quarter worth about $224,000. 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.