Moderna (NASDAQ:MRNA) Hits New 1-Year Low - Time to Sell?

Moderna, Inc. (NASDAQ:MRNA - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $26.80 and last traded at $28.35, with a volume of 20439330 shares changing hands. The stock had previously closed at $31.12.

Analyst Ratings Changes

MRNA has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Moderna from $40.00 to $33.00 and set an "underweight" rating on the stock in a research note on Friday, March 21st. Citigroup started coverage on Moderna in a report on Thursday, March 13th. They set a "neutral" rating and a $40.00 price target for the company. Barclays lowered 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, February 18th. The Goldman Sachs Group downgraded shares of Moderna from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Finally, Berenberg Bank upped their target price on shares of Moderna from $33.00 to $42.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $59.00.

Remove Ads

Moderna Trading Up 2.1 %

The business has a 50 day moving average of $34.43 and a 200-day moving average of $43.55. The firm has a market capitalization of $10.72 billion, a P/E ratio of -2.99 and a beta of 1.86.

Hedge Funds Weigh In On Moderna

A number of large investors have recently added to or reduced their stakes in MRNA. FMR LLC boosted its position in shares of Moderna by 7.4% during the fourth quarter. FMR LLC now owns 18,664,634 shares of the company's stock worth $776,075,000 after buying an additional 1,282,469 shares during the period. State Street Corp grew its stake in shares of Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company's stock worth $1,125,899,000 after acquiring an additional 1,823,276 shares in the last quarter. Theleme Partners LLP raised its holdings in shares of Moderna by 1.0% in the fourth quarter. Theleme Partners LLP now owns 7,306,861 shares of the company's stock valued at $303,819,000 after purchasing an additional 72,028 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Moderna by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock worth $300,219,000 after purchasing an additional 171,774 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Moderna by 21.0% during the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company's stock worth $349,166,000 after purchasing an additional 906,114 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.