CIBC Asset Management Inc Acquires 6,794 Shares of Moderna, Inc. (NASDAQ:MRNA)

CIBC Asset Management Inc raised its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,822 shares of the company’s stock after purchasing an additional 6,794 shares during the period. CIBC Asset Management Inc’s holdings in Moderna were worth $7,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Moderna by 10,687.1% in the 3rd quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock worth $21,353,000 after acquiring an additional 316,552 shares in the last quarter. Matrix Capital Management Company LP raised its position in shares of Moderna by 60.8% in the 1st quarter. Matrix Capital Management Company LP now owns 730,000 shares of the company’s stock worth $77,789,000 after acquiring an additional 276,000 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Moderna by 201.9% in the 2nd quarter. State of Michigan Retirement System now owns 274,248 shares of the company’s stock worth $32,567,000 after acquiring an additional 183,407 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Moderna by 11.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after acquiring an additional 167,596 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Moderna by 75.4% in the 3rd quarter. Van ECK Associates Corp now owns 266,929 shares of the company’s stock worth $17,839,000 after acquiring an additional 114,769 shares in the last quarter. Institutional investors own 75.33% of the company’s stock.

Insider Buying and Selling

In related news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the transaction, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 2,930 shares of company stock valued at $217,170. 15.70% of the stock is owned by company insiders.

Analyst Ratings Changes

MRNA has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Barclays reduced their price objective on Moderna from $125.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wolfe Research initiated coverage on Moderna in a research report on Friday. They set an “underperform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Moderna from a “sell” rating to a “hold” rating and reduced their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, August 7th. Finally, UBS Group cut their target price on Moderna from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.22.

Moderna Stock Performance

MRNA stock opened at $36.85 on Monday. The company has a market cap of $14.18 billion, a P/E ratio of -6.33 and a beta of 1.69. Moderna, Inc. has a 1 year low of $35.80 and a 1 year high of $170.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. The stock’s fifty day moving average price is $58.56 and its 200-day moving average price is $96.78.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($1.89) by $1.92. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned ($1.39) EPS. Moderna’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Moderna, Inc. will post -9.43 earnings per share for the current year.

Moderna Profile

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.