Moderna (NASDAQ:MRNA) Shares Down 6.3% – Here’s Why

Moderna, Inc. (NASDAQ:MRNA) shares fell 6.3% on Tuesday . The stock traded as low as $34.08 and last traded at $33.69. 1,468,336 shares were traded during trading, a decline of 88% from the average session volume of 12,428,438 shares. The stock had previously closed at $35.96.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MRNA shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price objective on shares of Moderna in a research note on Tuesday, February 18th. Leerink Partners dropped their price objective on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. UBS Group dropped their price objective on shares of Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley dropped their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Finally, HSBC raised shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, November 18th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.60.

Moderna Trading Up 7.4 %

The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of -4.01 and a beta of 1.86. The stock’s fifty day simple moving average is $36.25 and its 200-day simple moving average is $48.01.

Institutional Investors Weigh In On Moderna

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Moderna by 7.4% during the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock worth $776,075,000 after buying an additional 1,282,469 shares in the last quarter. State Street Corp lifted its holdings in Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after buying an additional 1,823,276 shares in the last quarter. Theleme Partners LLP raised its holdings in shares of Moderna by 1.0% in the 4th quarter. Theleme Partners LLP now owns 7,306,861 shares of the company’s stock valued at $303,819,000 after purchasing an additional 72,028 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Moderna by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company’s stock valued at $300,219,000 after purchasing an additional 171,774 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Moderna by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after purchasing an additional 906,114 shares in the last quarter. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Moderna Company 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.