Resona Asset Management Co. Ltd. Buys Shares of 94,753 Moderna, Inc. (NASDAQ:MRNA)

Resona Asset Management Co. Ltd. acquired a new stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 94,753 shares of the company's stock, valued at approximately $3,920,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Moderna in the fourth quarter valued at $163,833,000. Pictet Asset Management Holding SA increased its holdings 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 last quarter. Amundi raised its position in shares of Moderna by 79.8% during the 4th quarter. Amundi now owns 1,206,273 shares of the company's stock worth $52,075,000 after acquiring an additional 535,273 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in Moderna by 62.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 773,804 shares of the company's stock worth $32,175,000 after purchasing an additional 298,715 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Moderna by 274.6% in the fourth quarter. LPL Financial LLC now owns 367,878 shares of the company's stock valued at $15,296,000 after purchasing an additional 269,682 shares in the last quarter. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Moderna from a "buy" rating to a "neutral" rating and lowered their target price for the company from $99.00 to $51.00 in a report on Wednesday, January 29th. Citigroup assumed coverage on shares of Moderna in a research note on Thursday, March 13th. They issued a "neutral" rating and a $40.00 price objective for the company. UBS Group cut their target price on Moderna from $96.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on Moderna from $40.00 to $33.00 and set an "underweight" rating for the company in a research report on Friday, March 21st. Finally, Argus downgraded Moderna from a "buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Moderna currently has an average rating of "Hold" and a consensus target price of $58.70.

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Moderna Stock Up 6.9 %

MRNA stock traded up $1.70 on Friday, reaching $26.20. 10,999,018 shares of the company's stock were exchanged, compared to its average volume of 7,181,061. The stock has a fifty day moving average of $31.56 and a 200-day moving average of $41.01. The firm has a market cap of $10.13 billion, a PE ratio of -2.82 and a beta of 2.23. Moderna, Inc. has a twelve month low of $23.15 and a twelve month high of $170.47.

Moderna 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.