Moderna (NASDAQ:MRNA) Price Target Lowered to $38.00 at Morgan Stanley

Moderna (NASDAQ:MRNA - Get Free Report) had its target price lowered by equities researchers at Morgan Stanley from $70.00 to $38.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 9.29% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of Moderna from $125.00 to $111.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th. Wolfe Research assumed coverage on Moderna in a research report on Friday, November 15th. They set an "underperform" rating and a $40.00 target price for the company. Berenberg Bank started coverage on shares of Moderna in a report on Tuesday, November 19th. They set a "hold" rating and a $42.00 price objective for the company. HSBC raised shares of Moderna from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a research report on Monday, November 18th. Finally, Bank of America reiterated an "underperform" rating and set a $41.00 target price on shares of Moderna in a report on Tuesday, December 10th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $76.68.

Moderna Price Performance

Shares of Moderna stock traded up $0.31 during midday trading on Wednesday, reaching $34.77. The company had a trading volume of 7,451,588 shares, compared to its average volume of 13,017,716. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $41.78 and a 200 day simple moving average of $67.79. Moderna has a 1-year low of $31.94 and a 1-year high of $170.47. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of -5.97 and a beta of 1.60.

Moderna (NASDAQ:MRNA - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.89) by $1.92. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.39) earnings per share. As a group, equities research analysts forecast that Moderna will post -9.3 earnings per share for the current year.

Insider Activity

In related news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction on Friday, November 29th. The stock was sold at an average price of $42.79, for a total transaction of $60,676.22. Following the completion of the sale, the insider now owns 19,717 shares of the company's stock, valued at approximately $843,690.43. This trade represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,664 shares of company stock worth $115,210 over the last 90 days. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Moderna

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Advisory LLC grew its position in shares of Moderna by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 12,672 shares of the company's stock worth $847,000 after buying an additional 198 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Moderna in the 2nd quarter worth $26,000. Arkadios Wealth Advisors lifted its stake in shares of Moderna by 2.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 11,429 shares of the company's stock worth $764,000 after purchasing an additional 243 shares during the period. Knuff & Co LLC increased its stake in shares of Moderna by 5.4% in the 3rd quarter. Knuff & Co LLC now owns 4,732 shares of the company's stock worth $316,000 after purchasing an additional 244 shares in the last quarter. Finally, Stephens Inc. AR increased its position in Moderna by 7.9% in the third quarter. Stephens Inc. AR now owns 3,334 shares of the company's stock worth $223,000 after buying an additional 245 shares in 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.