M&T Bank Corp Grows Stock Holdings in Moderna, Inc. (NASDAQ:MRNA)

M&T Bank Corp raised its position in Moderna, Inc. (NASDAQ:MRNA) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,008 shares of the company’s stock after acquiring an additional 1,249 shares during the quarter. M&T Bank Corp’s holdings in Moderna were worth $539,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MRNA. Itau Unibanco Holding S.A. increased its position in shares of Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock valued at $42,000 after buying an additional 343 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Moderna by 0.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 74,520 shares of the company’s stock valued at $3,099,000 after buying an additional 345 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of Moderna by 53.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,128 shares of the company’s stock valued at $32,000 after buying an additional 392 shares during the period. Parallel Advisors LLC boosted its stake in Moderna by 11.4% during the first quarter. Parallel Advisors LLC now owns 4,403 shares of the company’s stock worth $125,000 after acquiring an additional 451 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Moderna by 17.4% during the fourth quarter. Signaturefd LLC now owns 3,618 shares of the company’s stock worth $150,000 after acquiring an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Moderna Price Performance

Shares of MRNA opened at $31.58 on Wednesday. Moderna, Inc. has a 1-year low of $23.15 and a 1-year high of $127.20. The stock has a market cap of $12.21 billion, a PE ratio of -3.62 and a beta of 1.84. The firm has a 50-day simple moving average of $27.46 and a two-hundred day simple moving average of $31.04.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($2.52) EPS for the quarter, beating the consensus estimate of ($2.92) by $0.40. Moderna had a negative net margin of 105.67% and a negative return on equity of 28.69%. The business had revenue of $108.00 million during the quarter, compared to analyst estimates of $130.35 million. During the same quarter last year, the firm posted ($3.07) earnings per share. The business’s revenue for the quarter was down 35.3% compared to the same quarter last year. As a group, sell-side analysts expect that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MRNA. Cowen began coverage on shares of Moderna in a research note on Sunday. They set a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of Moderna from $39.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of Moderna from $33.00 to $26.00 and set an “underweight” rating on the stock in a research note on Thursday, May 22nd. William Blair reiterated a “market perform” rating on shares of Moderna in a research note on Monday, June 2nd. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Moderna in a research note on Sunday. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.61.

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.