QRG Capital Management Inc. Sells 8,666 Shares of Moderna, Inc. (NASDAQ:MRNA)

QRG Capital Management Inc. cut its holdings in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 54.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,124 shares of the company's stock after selling 8,666 shares during the period. QRG Capital Management Inc.'s holdings in Moderna were worth $296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Moderna by 12.1% during the third quarter. State Street Corp now owns 16,847,212 shares of the company's stock valued at $1,125,899,000 after purchasing an additional 1,823,276 shares during the period. Geode Capital Management LLC grew its holdings in Moderna by 2.6% during the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company's stock valued at $470,670,000 after purchasing an additional 178,115 shares during the period. Wellington Management Group LLP grew its holdings in Moderna by 21.0% during the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company's stock valued at $349,166,000 after purchasing an additional 906,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Moderna by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company's stock valued at $260,023,000 after purchasing an additional 19,819 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Moderna by 6.2% during the third quarter. The Manufacturers Life Insurance Company now owns 3,073,934 shares of the company's stock worth $205,431,000 after acquiring an additional 178,939 shares in the last quarter. 75.33% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

MRNA has been the topic of several recent research reports. Bank of America dropped their target price on Moderna from $41.00 to $34.00 and set an "underperform" rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada restated a "sector perform" rating and set a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. JPMorgan Chase & Co. set a $45.00 target price on Moderna in a research report on Friday, February 14th. Morgan Stanley dropped their target price on Moderna from $70.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group downgraded Moderna from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.63.

Moderna Stock Performance

MRNA traded up $1.31 during trading on Friday, reaching $35.61. The stock had a trading volume of 17,290,858 shares, compared to its average volume of 12,693,394. The business has a 50-day moving average of $36.60 and a 200-day moving average of $48.77. Moderna, Inc. has a one year low of $29.25 and a one year high of $170.47. The stock has a market cap of $13.74 billion, a PE ratio of -3.84 and a beta of 1.86.

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.