OVERSEA CHINESE BANKING Corp Ltd Sells 37,172 Shares of Moderna, Inc. $MRNA

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Moderna, Inc. (NASDAQ:MRNA) by 75.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,069 shares of the company’s stock after selling 37,172 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Moderna were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MRNA. Norges Bank purchased a new stake in shares of Moderna in the 2nd quarter worth $94,910,000. Vanguard Group Inc. raised its stake in shares of Moderna by 3.2% in the second quarter. Vanguard Group Inc. now owns 41,708,705 shares of the company’s stock worth $1,150,743,000 after buying an additional 1,312,192 shares during the period. Legal Advantage Investments Inc. purchased a new position in shares of Moderna during the 3rd quarter valued at about $1,244,000. Letko Brosseau & Associates Inc. grew its stake in shares of Moderna by 2.4% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 918,190 shares of the company’s stock valued at $25,333,000 after acquiring an additional 21,765 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Moderna by 600.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 92,999 shares of the company’s stock worth $2,566,000 after acquiring an additional 79,726 shares in the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Moderna in a research report on Monday, January 5th. Citigroup cut their price target on Moderna from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Moderna in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Moderna in a report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Moderna from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $30.36.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $41.83 on Friday. The stock has a market capitalization of $16.34 billion, a P/E ratio of -5.18 and a beta of 1.17. Moderna, Inc. has a 1-year low of $22.28 and a 1-year high of $45.40. The business’s 50 day moving average is $29.61 and its two-hundred day moving average is $28.22.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($2.15) by $1.64. Moderna had a negative return on equity of 29.81% and a negative net margin of 139.61%.The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $893.29 million. During the same quarter in the prior year, the firm posted $0.03 EPS. Moderna’s quarterly revenue was down 45.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Noubar Afeyan sold 23,853 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.48, for a total value of $703,186.44. Following the sale, the director directly owned 3,924 shares of the company’s stock, valued at $115,679.52. This represents a 85.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.90% of the company’s stock.

About Moderna

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.