Wealthspire Advisors LLC Trims Stake in Moderna, Inc. (NASDAQ:MRNA)

Wealthspire Advisors LLC trimmed its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 10.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,725 shares of the company’s stock after selling 303 shares during the period. Wealthspire Advisors LLC’s holdings in Moderna were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in Moderna by 7.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,672 shares of the company’s stock worth $266,000 after purchasing an additional 187 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Moderna by 6,528.9% during the fourth quarter. International Assets Investment Management LLC now owns 387,656 shares of the company’s stock worth $38,552,000 after purchasing an additional 381,808 shares during the last quarter. abrdn plc lifted its stake in Moderna by 477.5% during the fourth quarter. abrdn plc now owns 483,574 shares of the company’s stock worth $48,091,000 after purchasing an additional 399,843 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Moderna during the fourth quarter worth about $1,358,000. Finally, Hobbs Group Advisors LLC bought a new stake in Moderna during the fourth quarter worth about $664,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Moderna Trading Down 1.1 %

MRNA traded down $1.36 during midday trading on Friday, reaching $121.46. 4,526,238 shares of the company’s stock traded hands, compared to its average volume of 3,341,187. The firm has a fifty day moving average of $135.29 and a two-hundred day moving average of $113.86. The stock has a market capitalization of $46.55 billion, a price-to-earnings ratio of -7.75 and a beta of 1.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.03 and a quick ratio of 3.91. Moderna, Inc. has a 52 week low of $62.55 and a 52 week high of $170.47.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($3.07) EPS for the quarter, beating analysts’ consensus estimates of ($3.59) by $0.52. Moderna had a negative return on equity of 20.10% and a negative net margin of 115.82%. The business had revenue of $167.00 million during the quarter, compared to analyst estimates of $93.26 million. During the same quarter in the prior year, the company posted $0.19 EPS. Moderna’s quarterly revenue was down 91.0% compared to the same quarter last year. On average, equities analysts anticipate that Moderna, Inc. will post -7.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRNA has been the subject of several research analyst reports. Oppenheimer lifted their price target on Moderna from $163.00 to $179.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research note on Friday, June 28th. Evercore ISI reaffirmed an “in-line” rating and set a $120.00 price target on shares of Moderna in a research note on Thursday, June 27th. Piper Sandler reissued an “overweight” rating and issued a $214.00 target price on shares of Moderna in a research note on Thursday, June 27th. Finally, UBS Group boosted their target price on Moderna from $143.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $134.02.

Insiders Place Their Bets

In other Moderna news, insider Shannon Thyme Klinger sold 1,296 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $162.47, for a total transaction of $210,561.12. Following the transaction, the insider now owns 10,623 shares in the company, valued at approximately $1,725,918.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Moderna news, insider Shannon Thyme Klinger sold 1,296 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $162.47, for a total transaction of $210,561.12. Following the transaction, the insider now owns 10,623 shares in the company, valued at approximately $1,725,918.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noubar Afeyan sold 202,832 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $148.34, for a total value of $30,088,098.88. Following the transaction, the director now owns 1,528,557 shares in the company, valued at approximately $226,746,145.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 396,239 shares of company stock worth $54,752,737. Company insiders own 15.70% of the company’s stock.

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.