Moderna (NASDAQ:MRNA) Shares Down 3.8% – What’s Next?

Moderna, Inc. (NASDAQ:MRNA)’s share price fell 3.8% during mid-day trading on Monday . The stock traded as low as $25.62 and last traded at $25.65. Approximately 4,655,272 shares changed hands during trading, a decline of 45% from the average daily volume of 8,393,897 shares. The stock had previously closed at $26.67.

Analyst Upgrades and Downgrades

MRNA has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of Moderna from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Royal Bank of Canada reduced their price target on shares of Moderna from $32.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. William Blair reaffirmed a “market perform” rating on shares of Moderna in a report on Monday, June 2nd. Evercore ISI reduced their target price on Moderna from $50.00 to $32.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Finally, Citigroup began coverage on Moderna in a research report on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective for the company. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.61.

Moderna Trading Down 2.5%

The firm has a market cap of $10.06 billion, a P/E ratio of -2.80 and a beta of 1.86. The firm’s 50 day moving average is $26.29 and its two-hundred day moving average is $32.91.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Thursday, May 1st. The company reported ($2.52) EPS for the quarter, beating analysts’ consensus estimates of ($2.92) by $0.40. The business had revenue of $108.00 million during the quarter, compared to analysts’ expectations of $130.35 million. Moderna had a negative net margin of 110.04% and a negative return on equity of 28.74%. The firm’s quarterly revenue was down 35.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.07) EPS. Analysts predict that Moderna, Inc. will post -9.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Moderna

Institutional investors have recently modified their holdings of the business. Deutsche Bank AG increased its position in shares of Moderna by 54.7% during the fourth quarter. Deutsche Bank AG now owns 1,894,075 shares of the company’s stock worth $78,756,000 after acquiring an additional 669,614 shares in the last quarter. Tang Capital Management LLC acquired a new position in shares of Moderna during the fourth quarter worth about $12,474,000. Proficio Capital Partners LLC boosted its position in shares of Moderna by 4,418.9% during the fourth quarter. Proficio Capital Partners LLC now owns 147,360 shares of the company’s stock worth $6,127,000 after buying an additional 144,099 shares during the period. South Dakota Investment Council grew its holdings in shares of Moderna by 4.0% during the fourth quarter. South Dakota Investment Council now owns 299,399 shares of the company’s stock worth $12,449,000 after buying an additional 11,500 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in 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 buying an additional 171,774 shares during 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.