Moderna (NASDAQ:MRNA) Hits New 52-Week Low - Here's What Happened

Moderna, Inc. (NASDAQ:MRNA - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $52.77 and last traded at $53.04, with a volume of 805110 shares trading hands. The stock had previously closed at $53.40.

Wall Street Analysts Forecast Growth

MRNA has been the subject of several analyst reports. HSBC upgraded Moderna from a "reduce" rating to a "hold" rating and set a $82.00 price objective for the company in a report on Wednesday, August 28th. Hsbc Global Res raised Moderna from a "moderate sell" rating to a "hold" rating in a report on Wednesday, August 28th. Royal Bank of Canada restated a "sector perform" rating and set a $75.00 price objective on shares of Moderna in a report on Thursday, September 19th. Oppenheimer cut shares of Moderna from an "outperform" rating to a "market perform" rating in a research note on Friday, September 13th. Finally, William Blair restated a "market perform" rating on shares of Moderna in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $97.18.

Moderna Stock Performance

The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05. The firm's fifty day moving average price is $69.03 and its two-hundred day moving average price is $103.55. The stock has a market capitalization of $20.46 billion, a PE ratio of -3.41 and a beta of 1.66.

Moderna (NASDAQ:MRNA - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, beating analysts' consensus estimates of ($3.47) by $0.14. The company had revenue of $241.00 million during the quarter, compared to analysts' expectations of $128.41 million. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The firm's revenue for the quarter was down 29.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.62) earnings per share. As a group, equities research analysts forecast that Moderna, Inc. will post -9.85 EPS for the current year.

Insider Transactions at Moderna

In related news, CFO James M. Mock sold 715 shares of Moderna stock in a transaction on Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the sale, the chief financial officer now owns 9,505 shares of the company's stock, valued at approximately $571,440.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO James M. Mock sold 715 shares of Moderna stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the sale, the chief financial officer now directly owns 9,505 shares in the company, valued at approximately $571,440.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James M. Mock sold 1,321 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the transaction, the chief financial officer now directly owns 8,600 shares of the company's stock, valued at $682,754. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,184 shares of company stock valued at $2,037,931 in the last three months. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Moderna by 15.1% in the 1st quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company's stock valued at $4,159,769,000 after buying an additional 5,129,800 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Moderna by 42.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,545,829 shares of the company's stock worth $164,724,000 after purchasing an additional 463,960 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Moderna by 156.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 741,783 shares of the company's stock worth $79,044,000 after purchasing an additional 453,004 shares during the last quarter. International Assets Investment Management LLC raised its stake in Moderna by 10,687.1% during the third quarter. International Assets Investment Management LLC now owns 319,514 shares of the company's stock worth $21,353,000 after purchasing an additional 316,552 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in Moderna by 1,212.9% in the 1st quarter. Intech Investment Management LLC now owns 330,805 shares of the company's stock valued at $35,251,000 after purchasing an additional 305,609 shares during the last quarter. Hedge funds and other 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.