Moderna's (MRNA) "Sector Perform" Rating Reaffirmed at Royal Bank of Canada

Moderna (NASDAQ:MRNA - Get Free Report)'s stock had its "sector perform" rating reiterated by equities researchers at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $40.00 target price on the stock. Royal Bank of Canada's price target suggests a potential upside of 12.58% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. Berenberg Bank increased their price target on shares of Moderna from $33.00 to $42.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Hsbc Global Res raised shares of Moderna from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on shares of Moderna from $59.00 to $45.00 and set an "underweight" rating on the stock in a report on Tuesday, November 26th. Wolfe Research started coverage on shares of Moderna in a report on Friday, November 15th. They set an "underperform" rating and a $40.00 price objective on the stock. Finally, Morgan Stanley decreased 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. Four equities 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 issued a strong buy rating to the company's stock. According to MarketBeat, Moderna currently has an average rating of "Hold" and a consensus price target of $60.63.

Moderna Stock Performance

NASDAQ MRNA traded up $1.80 during mid-day trading on Tuesday, reaching $35.53. 21,105,667 shares of the stock were exchanged, compared to its average volume of 13,153,321. The business's 50 day moving average is $38.17 and its 200-day moving average is $53.20. Moderna has a 1 year low of $29.25 and a 1 year high of $170.47. The company has a market capitalization of $13.67 billion, a P/E 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 Moderna 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 transaction, the insider now directly owns 19,717 shares of the company's stock, valued at $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 2,664 shares of company stock worth $115,210. Insiders own 15.70% of the company's stock.

Hedge Funds Weigh In On Moderna

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Moderna in the 4th quarter valued at approximately $163,833,000. Voloridge Investment Management LLC raised its stake in shares of Moderna by 335.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company's stock valued at $107,727,000 after acquiring an additional 1,996,003 shares during the period. State Street Corp raised its stake in shares of Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company's stock valued at $1,125,899,000 after acquiring an additional 1,823,276 shares during the period. FMR LLC raised its stake in shares of Moderna by 7.4% in the 4th quarter. FMR LLC now owns 18,664,634 shares of the company's stock valued at $776,075,000 after acquiring an additional 1,282,469 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of Moderna by 170.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company's stock valued at $73,447,000 after acquiring an additional 1,113,455 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

About Moderna

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.