Moderna, Inc. $MRNA Position Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,501 shares of the company’s stock after buying an additional 5,060 shares during the period. Rakuten Investment Management Inc.’s holdings in Moderna were worth $8,647,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRNA. Western Pacific Wealth Management LP purchased a new position in shares of Moderna in the third quarter worth about $29,000. Allied Private Wealth LLC bought a new stake in shares of Moderna in the 2nd quarter valued at about $30,000. Next Level Wealth Planning LLC purchased a new stake in Moderna during the 3rd quarter valued at about $34,000. Archer Investment Corp purchased a new stake in Moderna during the 2nd quarter valued at about $36,000. Finally, Ramsey Quantitative Systems bought a new position in Moderna during the 3rd quarter worth approximately $40,000. 75.33% of the stock is owned by institutional investors.

Moderna Stock Performance

Moderna stock opened at $241.46 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average of $189.62 and a 200-day moving average of $90.46. The firm has a market cap of $96.40 billion, a P/E ratio of -30.22 and a beta of 1.16. Moderna, Inc. has a 1-year low of $22.28 and a 1-year high of $261.00.

Key Moderna News

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Health Canada authorized Moderna’s mRNA seasonal influenza vaccine and its combined influenza/COVID-19 vaccine for adults 50 and older, making Canada the first country to authorize both products. The approvals expand potential commercial opportunities, though sales and uptake remain to be seen. Health Canada authorizes Moderna’s vaccines
• Positive Sentiment: Moderna’s investigational multiple-myeloma therapy mRNA-2808 generated four confirmed responses among 11 heavily pretreated patients in early data. The results are preliminary, but helped fuel optimism about the company’s cancer platform; fuller data are scheduled for presentation at a December medical meeting. Early multiple-myeloma data
• Positive Sentiment: The WHO’s technical advisory group recommended advancing Moderna’s Bundibugyo Ebola vaccine candidate to a Phase 2/3 efficacy study in the Democratic Republic of the Congo, a positive development for its pipeline. Ebola vaccine advances toward Phase 2/3
• Neutral Sentiment: Investors are looking to Friday’s earnings report for updates on revenue, cash use, and the company’s ability to fund its pipeline. The results could be an important test after a steep rally. Q3 earnings preview
• Negative Sentiment: U.S. judges pressed Moderna on its defense in a COVID-19 vaccine patent dispute that could involve billions of dollars, raising uncertainty about potential legal exposure. Moderna pressed on patent defense
• Negative Sentiment: Some commentary argues the stock’s valuation has run ahead of near-term revenue prospects, citing ongoing cash burn and commercial hurdles for pipeline products. That risk may weigh more heavily if earnings do not support the rally. Moderna earnings and valuation analysis

Wall Street Analysts Forecast Growth

MRNA has been the topic of a number of analyst reports. Bank of America lifted their price target on Moderna from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 9th. The Goldman Sachs Group increased their price objective on Moderna from $120.00 to $137.00 and gave the company a “neutral” rating in a research note on Thursday, October 15th. Morgan Stanley raised their target price on shares of Moderna from $89.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 7th. CLSA raised shares of Moderna to an “outperform” rating in a research note on Friday, August 28th. Finally, Barclays lifted their target price on shares of Moderna from $48.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 24th. Six research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $107.10.

Insider Activity at Moderna

In other news, CFO James M. Mock sold 34,836 shares of Moderna stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $134.49, for a total value of $4,685,093.64. Following the sale, the chief financial officer directly owned 59,375 shares in the company, valued at approximately $7,985,343.75. This trade represents a 36.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Stephen Hoge sold 40,294 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $144.13, for a total value of $5,807,574.22. Following the transaction, the president directly owned 1,525,858 shares in the company, valued at $219,921,913.54. This trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 197,251 shares of company stock worth $33,875,904 in the last 90 days. Company insiders own 10.80% of the company’s stock.

About Moderna

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can stimulate immune responses or support the treatment of disease. The company’s research programs span infectious diseases, immuno-oncology, rare diseases, autoimmune conditions and other therapeutic areas.

Moderna’s commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults.