Brokerages Set Moderna, Inc. (NASDAQ:MRNA) PT at $36.60

Shares of Moderna, Inc. (NASDAQ:MRNA) have received a consensus rating of “Reduce” from the eighteen brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.60.

A number of equities research analysts recently commented on MRNA shares. UBS Group reiterated a “neutral” rating on shares of Moderna in a research report on Tuesday, May 26th. Royal Bank Of Canada upped their target price on Moderna from $35.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Moderna in a research report on Friday, June 12th. Piper Sandler upped their price objective on Moderna from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Barclays upped their price objective on Moderna from $25.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 2nd.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $59.35 on Tuesday. The business’s 50 day moving average price is $50.73 and its 200 day moving average price is $45.63. The firm has a market cap of $23.55 billion, a P/E ratio of -7.28 and a beta of 1.05. Moderna has a 52 week low of $22.28 and a 52 week high of $67.74. The company has a quick ratio of 2.35, a current ratio of 2.41 and a debt-to-equity ratio of 0.08.

Moderna (NASDAQ:MRNA) last issued its earnings results on Friday, May 1st. The company reported ($3.40) EPS for the quarter, missing analysts’ consensus estimates of ($3.02) by ($0.38). The firm had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $236.37 million. Moderna had a negative net margin of 143.55% and a negative return on equity of 26.64%. Moderna’s quarterly revenue was up 260.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.52) EPS. On average, sell-side analysts expect that Moderna will post -6.51 earnings per share for the current year.

Insider Buying and Selling

In other Moderna news, insider Shannon Thyme Klinger sold 3,471 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $50.00, for a total value of $173,550.00. Following the sale, the insider owned 67,468 shares in the company, valued at approximately $3,373,400. This represents a 4.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Hoge sold 53,336 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $51.37, for a total value of $2,739,870.32. Following the completion of the sale, the president owned 1,483,848 shares in the company, valued at approximately $76,225,271.76. This represents a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 125,088 shares of company stock worth $6,193,713. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Moderna

Several hedge funds have recently bought and sold shares of MRNA. MUFG Securities EMEA plc purchased a new stake in Moderna in the 2nd quarter worth approximately $28,000. Flagship Harbor Advisors LLC acquired a new position in shares of Moderna during the 4th quarter worth approximately $31,000. Canton Hathaway LLC acquired a new position in shares of Moderna during the 1st quarter worth approximately $31,000. Ameriflex Group Inc. raised its stake in shares of Moderna by 3,775.0% during the 3rd quarter. Ameriflex Group Inc. now owns 1,240 shares of the company’s stock worth $32,000 after buying an additional 1,208 shares during the period. Finally, Cromwell Holdings LLC raised its stake in shares of Moderna by 39.7% during the 4th quarter. Cromwell Holdings LLC now owns 1,200 shares of the company’s stock worth $35,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Moderna Company Profile

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.