Moderna (NASDAQ:MRNA) Sets New 12-Month Low Following Analyst Downgrade

Shares of Moderna, Inc. (NASDAQ:MRNA) hit a new 52-week low during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $70.00 to $59.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Moderna traded as low as $52.08 and last traded at $52.75, with a volume of 2452446 shares traded. The stock had previously closed at $53.54.

Other analysts also recently issued research reports about the company. Barclays reduced their price objective on Moderna from $155.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research report on Friday, September 13th. Royal Bank of Canada restated a “sector perform” rating and set a $75.00 target price on shares of Moderna in a research report on Thursday, September 19th. Leerink Partners cut their target price on Moderna from $60.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday, September 17th. Finally, TD Cowen cut their target price on Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.00.

Insider Activity

In other news, CFO James M. Mock sold 715 shares of Moderna stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO James M. Mock sold 715 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the completion of the transaction, the chief financial officer now directly owns 9,505 shares in the company, valued at approximately $571,440.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the sale, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at $682,754. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,184 shares of company stock valued at $238,531. Company insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Moderna

Several institutional investors and hedge funds have recently made changes to their positions in MRNA. Ashton Thomas Private Wealth LLC bought a new stake in Moderna in the 2nd quarter valued at $26,000. Cedar Wealth Management LLC lifted its position in Moderna by 45.0% during the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after buying an additional 90 shares in the last quarter. Family Firm Inc. bought a new stake in Moderna during the 2nd quarter worth about $33,000. Bank & Trust Co bought a new stake in Moderna during the 2nd quarter worth about $36,000. Finally, Hanseatic Management Services Inc. bought a new stake in Moderna during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Stock Down 0.5 %

The firm’s 50-day simple moving average is $63.53 and its 200 day simple moving average is $100.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.92 and a current ratio of 4.09. The stock has a market capitalization of $20.48 billion, a P/E ratio of -3.46 and a beta of 1.69.

Moderna Company 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.