Florida Trust Wealth Management Co Invests $337,000 in Moderna, Inc. $MRNA

Florida Trust Wealth Management Co bought a new position in shares of Moderna, Inc. (NASDAQ:MRNA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,419 shares of the company’s stock, valued at approximately $337,000.

A number of other institutional investors also recently modified their holdings of the company. Legal Advantage Investments Inc. purchased a new stake in Moderna in the third quarter worth about $1,244,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Moderna in the third quarter worth about $2,351,000. Thrivent Financial for Lutherans lifted its holdings in Moderna by 600.7% in the second quarter. Thrivent Financial for Lutherans now owns 92,999 shares of the company’s stock worth $2,566,000 after buying an additional 79,726 shares during the period. Douglas Lane & Associates LLC lifted its holdings in Moderna by 21.3% in the third quarter. Douglas Lane & Associates LLC now owns 1,128,434 shares of the company’s stock worth $29,147,000 after buying an additional 198,269 shares during the period. Finally, CWM LLC lifted its holdings in Moderna by 50.1% in the third quarter. CWM LLC now owns 390,333 shares of the company’s stock worth $10,082,000 after buying an additional 130,200 shares during the period. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Stephen Hoge sold 160,009 shares of Moderna stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $48.84, for a total transaction of $7,814,839.56. Following the completion of the transaction, the president directly owned 1,457,427 shares in the company, valued at approximately $71,180,734.68. This trade represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MRNA. Piper Sandler raised their price objective on shares of Moderna from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. BMO Capital Markets upgraded shares of Moderna from a “market perform” rating to a “buy” rating in a report on Monday, January 12th. The Goldman Sachs Group raised their price objective on shares of Moderna from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Sanford C. Bernstein restated a “market perform” rating and issued a $45.00 price objective on shares of Moderna in a report on Tuesday, February 17th. Finally, UBS Group restated a “neutral” rating and issued a $36.00 price objective on shares of Moderna in a report on Monday, February 16th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $33.87.

Moderna Price Performance

MRNA stock opened at $48.77 on Tuesday. The firm has a 50 day moving average price of $48.92 and a 200-day moving average price of $36.32. Moderna, Inc. has a 52-week low of $22.28 and a 52-week high of $59.55. The firm has a market capitalization of $19.26 billion, a price-to-earnings ratio of -6.71 and a beta of 1.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.22 and a current ratio of 3.29.

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

About Moderna

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.