Moderna (NASDAQ:MRNA) Price Target Lowered to $115.00 at Piper Sandler

Moderna (NASDAQ:MRNA) had its price target reduced by Piper Sandler from $157.00 to $115.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

MRNA has been the subject of a number of other research reports. William Blair reiterated a market perform rating on shares of Moderna in a research note on Thursday, June 27th. Evercore ISI reiterated an in-line rating and set a $120.00 price objective on shares of Moderna in a research note on Thursday, June 27th. The Goldman Sachs Group lowered their price objective on Moderna from $204.00 to $178.00 and set a buy rating for the company in a research note on Friday, August 2nd. Needham & Company LLC restated a hold rating on shares of Moderna in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. cut Moderna from a neutral rating to an underweight rating and decreased their price target for the stock from $88.00 to $70.00 in a research note on Friday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Moderna has an average rating of Hold and a consensus price target of $108.53.

Moderna Stock Down 2.0 %

Shares of NASDAQ:MRNA opened at $68.28 on Friday. The stock has a fifty day simple moving average of $95.06 and a two-hundred day simple moving average of $111.68. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of -4.36 and a beta of 1.67. Moderna has a 12-month low of $62.55 and a 12-month high of $170.47. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. The business had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The firm’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.62) earnings per share. On average, research analysts anticipate that Moderna will post -9.52 earnings per share for the current fiscal year.

Insider Activity at Moderna

In related news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $127.22, for a total transaction of $1,908,300.00. Following the completion of the sale, the director now owns 2,284,015 shares in the company, valued at $290,572,388.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Moderna news, CFO James M. Mock sold 689 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at $859,486.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $127.22, for a total value of $1,908,300.00. Following the sale, the director now directly owns 2,284,015 shares of the company’s stock, valued at approximately $290,572,388.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,158 shares of company stock worth $13,239,712. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Moderna

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Moderna by 15.1% in the first quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock worth $4,159,769,000 after acquiring an additional 5,129,800 shares during the period. Wellington Management Group LLP lifted its position in shares of Moderna by 28.8% in the fourth quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock worth $718,584,000 after buying an additional 1,614,460 shares in the last quarter. Capital World Investors lifted its position in shares of Moderna by 0.5% in the first quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock worth $388,743,000 after buying an additional 18,728 shares in the last quarter. Norges Bank purchased a new stake in shares of Moderna in the fourth quarter worth about $347,565,000. Finally, Mawer Investment Management Ltd. lifted its position in shares of Moderna by 6.7% in the first quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock worth $204,230,000 after buying an additional 120,621 shares in the last quarter. Institutional investors own 75.33% of the company’s stock.

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.