JPMorgan Chase & Co. Trims Moderna (NASDAQ:MRNA) Target Price to $88.00

Moderna (NASDAQ:MRNA) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $96.00 to $88.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 6.99% from the company’s current price.

A number of other equities analysts have also issued reports on MRNA. 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. William Blair reaffirmed a “market perform” rating on shares of Moderna in a research note on Thursday, June 27th. Oppenheimer increased their price target on Moderna from $163.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Piper Sandler reaffirmed an “overweight” rating and set a $157.00 price target (down from $214.00) on shares of Moderna in a research note on Friday, August 2nd. Finally, UBS Group raised their price objective on Moderna from $143.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $124.07.

Moderna Stock Down 0.8 %

MRNA opened at $82.25 on Thursday. Moderna has a 12 month low of $62.55 and a 12 month high of $170.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.91. The stock has a market cap of $31.52 billion, a P/E ratio of -5.25 and a beta of 1.67. The stock’s 50 day moving average price is $118.88 and its 200 day moving average price is $114.11.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. The firm had revenue of $241.00 million during the quarter, compared to analyst estimates of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The firm’s quarterly revenue was down 29.9% on a year-over-year basis. During the same period last year, the company posted ($3.62) EPS. As a group, research analysts predict that Moderna will post -7.46 earnings per share for the current year.

Insider Transactions at Moderna

In related news, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $157.57, for a total transaction of $2,363,550.00. Following the completion of the sale, the director now directly owns 1,981,931 shares in the company, valued at $312,292,867.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Shannon Thyme Klinger sold 1,296 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 10,623 shares in the company, valued at $1,725,918.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $157.57, for a total value of $2,363,550.00. Following the sale, the director now owns 1,981,931 shares of the company’s stock, valued at $312,292,867.67. The disclosure for this sale can be found here. Insiders sold a total of 366,238 shares of company stock valued at $51,819,454 over the last quarter. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new position in Moderna during the second quarter valued at about $26,000. Ogorek Anthony Joseph NY ADV bought a new position in Moderna during the fourth quarter valued at about $27,000. Cedar Wealth Management LLC raised its holdings in Moderna by 45.0% during the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after buying an additional 90 shares in the last quarter. Westside Investment Management Inc. bought a new position in Moderna during the first quarter valued at about $32,000. Finally, Family Firm Inc. bought a new position in shares of Moderna in the second quarter worth about $33,000. 75.33% of the stock is currently owned by institutional investors.

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.