Morgan Stanley Issues Pessimistic Forecast for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA - Get Free Report) had its price objective cut by Morgan Stanley from $39.00 to $32.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 22.14% from the company's current price.

Several other research firms have also issued reports on MRNA. JPMorgan Chase & Co. reduced their price target on Moderna from $40.00 to $33.00 and set an "underweight" rating on the stock in a research report on Friday, March 21st. Barclays cut shares of Moderna from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $111.00 to $45.00 in a report on Tuesday, February 18th. Citigroup assumed coverage on shares of Moderna in a report on Thursday, March 13th. They set a "neutral" rating and a $40.00 price target for the company. Leerink Partners cut their price target on shares of Moderna from $31.00 to $27.00 and set an "underweight" rating on the stock in a report on Thursday, January 16th. Finally, Berenberg Bank upped their price objective on shares of Moderna from $33.00 to $42.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Four equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.70.

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Moderna Stock Performance

MRNA traded up $1.70 during trading on Wednesday, reaching $26.20. The stock had a trading volume of 10,999,018 shares, compared to its average volume of 7,181,061. The business has a 50-day moving average of $31.56 and a 200-day moving average of $41.01. Moderna has a one year low of $23.15 and a one year high of $170.47. The stock has a market cap of $10.13 billion, a PE ratio of -2.82 and a beta of 2.23.

Hedge Funds Weigh In On Moderna

Several hedge funds have recently bought and sold shares of MRNA. Sentry Investment Management LLC purchased a new position in shares of Moderna during the first quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its stake in Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company's stock worth $33,000 after purchasing an additional 587 shares in the last quarter. Compass Planning Associates Inc purchased a new position in Moderna during the 4th quarter worth $37,000. Venturi Wealth Management LLC raised its position in Moderna by 286.2% during the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company's stock valued at $37,000 after purchasing an additional 664 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Moderna in the 4th quarter worth $41,000. Institutional investors own 75.33% of the company's stock.

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.