Hudson Bay Capital Management LP Lowers Stake in Moderna, Inc. $MRNA

Hudson Bay Capital Management LP reduced its stake in Moderna, Inc. (NASDAQ:MRNA) by 26.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,000 shares of the company’s stock after selling 20,000 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Moderna were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Moderna by 6.2% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,334 shares of the company’s stock worth $241,000 after acquiring an additional 546 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Moderna by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 110,812 shares of the company’s stock valued at $2,862,000 after purchasing an additional 687 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of Moderna by 2.8% in the third quarter. Cibc World Market Inc. now owns 25,832 shares of the company’s stock worth $667,000 after purchasing an additional 700 shares during the period. Huntington National Bank boosted its position in shares of Moderna by 41.2% in the third quarter. Huntington National Bank now owns 2,638 shares of the company’s stock worth $68,000 after purchasing an additional 770 shares during the period. Finally, Woodline Partners LP increased its stake in shares of Moderna by 0.3% in the third quarter. Woodline Partners LP now owns 247,773 shares of the company’s stock worth $6,400,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Moderna Price Performance

Shares of NASDAQ:MRNA opened at $51.38 on Monday. The company has a market cap of $20.29 billion, a PE ratio of -7.07 and a beta of 1.29. Moderna, Inc. has a twelve month low of $22.28 and a twelve month high of $59.55. The company’s 50 day moving average is $47.38 and its 200 day moving average is $34.31. The company has a current ratio of 3.29, a quick ratio of 3.22 and a debt-to-equity ratio of 0.07.

Moderna (NASDAQ:MRNA) last posted its earnings results on Friday, February 13th. The company reported ($2.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.79) by $0.68. The company had revenue of $678.00 million during the quarter, compared to the consensus estimate of $611.14 million. Moderna had a negative net margin of 145.16% and a negative return on equity of 30.15%. The firm’s quarterly revenue was down 33.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.91) earnings per share. On average, sell-side analysts forecast that Moderna, Inc. will post -9.61 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on MRNA shares. BMO Capital Markets upgraded shares of Moderna from a “market perform” rating to a “buy” rating in a research note on Monday, January 12th. Citigroup reissued a “neutral” rating on shares of Moderna in a research note on Monday, February 16th. Morgan Stanley set a $30.00 target price on shares of Moderna in a report on Monday, February 16th. The Goldman Sachs Group increased their price target on shares of Moderna from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, Jefferies Financial Group set a $37.00 price target on Moderna and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $32.33.

Insider Buying and Selling

In related news, President Stephen Hoge sold 160,009 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $48.84, for a total value of $7,814,839.56. Following the completion of the sale, the president owned 1,457,427 shares of the company’s stock, valued at approximately $71,180,734.68. The trade was a 9.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.80% of the company’s stock.

Moderna 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.