Moderna (NASDAQ:MRNA) Downgraded by Barclays to "Equal Weight"

Barclays lowered shares of Moderna (NASDAQ:MRNA - Free Report) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, MarketBeat reports. They currently have $45.00 target price on the stock, down from their previous target price of $111.00.

A number of other research analysts also recently issued reports on MRNA. JPMorgan Chase & Co. dropped their price target on shares of Moderna from $59.00 to $45.00 and set an "underweight" rating on the stock in a research report on Tuesday, November 26th. Wolfe Research started coverage on shares of Moderna in a research report on Friday, November 15th. They set an "underperform" rating and a $40.00 target price on the stock. Argus downgraded shares of Moderna from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Berenberg Bank boosted their target price on shares of Moderna from $33.00 to $42.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Finally, Evercore ISI dropped their target price on shares of Moderna from $60.00 to $50.00 and set an "in-line" rating on the stock in a research report on Monday, January 27th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $60.63.

Moderna Stock Performance

Shares of NASDAQ MRNA traded up $1.80 during midday trading on Tuesday, reaching $35.53. The stock had a trading volume of 21,324,853 shares, compared to its average volume of 13,159,273. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of -3.83 and a beta of 1.59. Moderna has a twelve month low of $29.25 and a twelve month high of $170.47. The company's 50 day moving average price is $38.17 and its 200 day moving average price is $53.20.

Insider Activity

In related 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 transaction of $60,676.22. Following the completion of the transaction, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. This represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 2,664 shares of company stock worth $115,210 over the last quarter. Insiders own 15.70% of the company's stock.

Hedge Funds Weigh In On Moderna

Several institutional investors have recently added to or reduced their stakes in MRNA. Wilmington Savings Fund Society FSB grew its position 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 buying an additional 587 shares during the period. Compass Planning Associates Inc bought a new position in Moderna during the fourth quarter valued at about $37,000. Venturi Wealth Management LLC grew its position in Moderna by 286.2% during the fourth 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. bought a new position in Moderna during the fourth quarter valued at about $41,000. Finally, Itau Unibanco Holding S.A. grew its position in Moderna by 51.2% during the fourth 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 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.