Moderna (NASDAQ:MRNA) Shares Gap Down - What's Next?

Shares of Moderna, Inc. (NASDAQ:MRNA - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $31.12, but opened at $28.89. Moderna shares last traded at $27.45, with a volume of 4,996,103 shares changing hands.

Analysts Set New Price Targets

MRNA has been the subject of several research reports. Citigroup started coverage on Moderna in a research report on Thursday, March 13th. They set a "neutral" rating and a $40.00 price objective for the company. UBS Group decreased their price objective on Moderna from $96.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Evercore ISI set a $50.00 price objective on Moderna in a research report on Friday, February 14th. Bank of America reduced 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, The Goldman Sachs Group downgraded shares of Moderna from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $59.00.

Moderna Stock Performance

The firm has a market cap of $10.72 billion, a price-to-earnings ratio of -2.99 and a beta of 1.86. The company's fifty day moving average is $34.21 and its two-hundred day moving average is $43.44.

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Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Moderna by 7.4% during the 4th 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 last quarter. State Street Corp grew its stake in 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 buying an additional 1,823,276 shares during the last quarter. Theleme Partners LLP increased its position in Moderna by 1.0% in the fourth quarter. Theleme Partners LLP now owns 7,306,861 shares of the company's stock worth $303,819,000 after buying an additional 72,028 shares during the period. Geode Capital Management LLC increased its position in 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 buying an additional 171,774 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Moderna by 21.0% in the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company's stock valued at $349,166,000 after buying an additional 906,114 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.

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.