Bank of America Lowers Moderna (NASDAQ:MRNA) Price Target to $21.00

Moderna (NASDAQ:MRNA) had its price target dropped by Bank of America from $24.00 to $21.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price target points to a potential downside of 20.48% from the company’s current price.

Several other brokerages also recently commented on MRNA. Barclays cut their price objective on Moderna from $31.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Evercore ISI set a $32.00 target price on shares of Moderna in a research note on Friday, August 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Moderna in a report on Wednesday, October 8th. Leerink Partners decreased their price objective on shares of Moderna from $18.00 to $15.00 and set an “underperform” rating for the company in a report on Friday, August 22nd. Finally, UBS Group lowered their price objective on shares of Moderna from $70.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.14.

Moderna Stock Performance

NASDAQ MRNA opened at $26.41 on Monday. The stock has a 50 day moving average price of $25.86 and a 200-day moving average price of $27.11. Moderna has a one year low of $23.04 and a one year high of $48.92. The company has a market capitalization of $10.32 billion, a P/E ratio of -3.27 and a beta of 2.02.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($2.15) by $1.64. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $893.29 million. Moderna had a negative return on equity of 29.81% and a negative net margin of 139.61%.The firm’s revenue was down 45.4% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. Moderna has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Moderna will post -9.61 EPS for the current fiscal year.

Institutional Trading of Moderna

Several institutional investors and hedge funds have recently bought and sold shares of the stock. S Bank Fund Management Ltd purchased a new position in Moderna during the first quarter worth about $25,000. Rothschild Investment LLC raised its stake in shares of Moderna by 94.1% in the 2nd quarter. Rothschild Investment LLC now owns 920 shares of the company’s stock valued at $25,000 after acquiring an additional 446 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Moderna by 348.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 956 shares of the company’s stock worth $26,000 after acquiring an additional 743 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Moderna in the 2nd quarter valued at approximately $26,000. Finally, SVB Wealth LLC purchased a new stake in Moderna in the first quarter valued at approximately $28,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

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.