Russell Investments Group Ltd. Increases Stock Position in Moderna, Inc. (NASDAQ:MRNA)

Russell Investments Group Ltd. raised its stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 81.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,243 shares of the company's stock after purchasing an additional 76,350 shares during the period. Russell Investments Group Ltd.'s holdings in Moderna were worth $7,019,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. abrdn plc lifted its position in Moderna by 28.1% in the 4th quarter. abrdn plc now owns 315,912 shares of the company's stock valued at $12,842,000 after acquiring an additional 69,360 shares in the last quarter. Spire Wealth Management raised its position in Moderna by 2,150.4% in the fourth quarter. Spire Wealth Management now owns 23,224 shares of the company's stock worth $966,000 after acquiring an additional 22,192 shares during the period. Proficio Capital Partners LLC lifted its stake in Moderna by 4,418.9% in the fourth quarter. Proficio Capital Partners LLC now owns 147,360 shares of the company's stock valued at $6,127,000 after purchasing an additional 144,099 shares during the last quarter. South Dakota Investment Council grew its stake in shares of Moderna by 4.0% during the 4th quarter. South Dakota Investment Council now owns 299,399 shares of the company's stock worth $12,449,000 after acquiring an additional 11,500 shares during the period. Finally, Geode Capital Management LLC boosted its position in Moderna by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock worth $300,219,000 after purchasing an additional 171,774 shares during the period. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MRNA. Morgan Stanley cut their price target on shares of Moderna from $39.00 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Berenberg Bank lifted their price target on Moderna from $33.00 to $42.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price objective on shares of Moderna from $40.00 to $33.00 and set an "underweight" rating on the stock in a research report on Friday, March 21st. Leerink Partners dropped their target price on shares of Moderna from $31.00 to $27.00 and set an "underweight" rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group cut shares of Moderna from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $99.00 to $51.00 in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Moderna presently has an average rating of "Hold" and an average target price of $58.70.

Moderna Price Performance

Shares of NASDAQ:MRNA traded down $0.48 during trading on Friday, hitting $24.72. 6,678,250 shares of the company's stock were exchanged, compared to its average volume of 7,248,025. The business's 50-day simple moving average is $30.96 and its 200 day simple moving average is $40.08. The company has a market cap of $9.56 billion, a price-to-earnings ratio of -2.66 and a beta of 2.23. Moderna, Inc. has a 52-week low of $23.15 and a 52-week high of $170.47.

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.