Wellington Management Group LLP Sells 1,309,593 Shares of Moderna, Inc. (NASDAQ:MRNA)

Wellington Management Group LLP lessened its stake in Moderna, Inc. (NASDAQ:MRNA) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,915,092 shares of the company’s stock after selling 1,309,593 shares during the period. Wellington Management Group LLP owned about 1.01% of Moderna worth $162,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MRNA. Wilmington Savings Fund Society FSB boosted its holdings in Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after acquiring an additional 587 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Moderna by 286.2% during the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after buying an additional 664 shares during the period. Compass Planning Associates Inc bought a new position in Moderna during the fourth quarter worth $37,000. Crowley Wealth Management Inc. acquired a new position in Moderna in the fourth quarter valued at $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Moderna by 58.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock valued at $44,000 after acquiring an additional 389 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MRNA. Morgan Stanley lowered their price objective on Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Evercore ISI set a $50.00 price target on Moderna in a research note on Friday, February 14th. Bank of America cut their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, February 11th. Citigroup started coverage on shares of Moderna in a research note on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 target price on shares of Moderna in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Moderna has a consensus rating of “Hold” and a consensus target price of $59.00.

Moderna Stock Up 2.1 %

Moderna stock opened at $27.72 on Thursday. Moderna, Inc. has a 52 week low of $26.26 and a 52 week high of $170.47. The company’s 50 day moving average price is $34.21 and its two-hundred day moving average price is $43.44. The stock has a market cap of $10.72 billion, a P/E ratio of -2.99 and a beta of 1.86.

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.