Bank Pictet & Cie Europe AG Has $62.06 Million Position in Moderna, Inc. (NASDAQ:MRNA)

Bank Pictet & Cie Europe AG lowered its holdings in Moderna, Inc. (NASDAQ:MRNA) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 522,626 shares of the company’s stock after selling 1,000 shares during the quarter. Moderna comprises about 1.5% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 19th largest position. Bank Pictet & Cie Europe AG owned 0.14% of Moderna worth $62,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ogorek Anthony Joseph NY ADV acquired a new position in shares of Moderna during the fourth quarter valued at $27,000. Cedar Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 90 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Moderna during the first quarter valued at $32,000. Family Firm Inc. acquired a new position in shares of Moderna during the second quarter valued at $33,000. Finally, Rise Advisors LLC lifted its stake in shares of Moderna by 953.3% during the first quarter. Rise Advisors LLC now owns 316 shares of the company’s stock valued at $34,000 after acquiring an additional 286 shares during the period. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Trading Up 1.7 %

Shares of Moderna stock traded up $1.40 during trading hours on Friday, hitting $82.44. The company’s stock had a trading volume of 4,225,200 shares, compared to its average volume of 4,111,500. Moderna, Inc. has a 12 month low of $62.55 and a 12 month high of $170.47. The stock has a 50 day moving average of $110.18 and a 200 day moving average of $113.41. The company has a market capitalization of $31.59 billion, a PE ratio of -5.26 and a beta of 1.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.91.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MRNA shares. Barclays cut their price target on Moderna from $168.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $157.00 target price (down previously from $214.00) on shares of Moderna in a research note on Friday, August 2nd. Royal Bank of Canada lowered Moderna from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $125.00 to $90.00 in a research note on Monday, August 5th. Oppenheimer increased their target price on Moderna from $163.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Evercore ISI reissued an “in-line” rating and issued a $120.00 target price on shares of Moderna in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $124.07.

Insider Buying and Selling

In related news, President Stephen Hoge sold 341 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $144.50, for a total transaction of $49,274.50. Following the completion of the transaction, the president now directly owns 1,471,777 shares in the company, valued at $212,671,776.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Moderna news, President Stephen Hoge sold 341 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $144.50, for a total value of $49,274.50. Following the completion of the transaction, the president now directly owns 1,471,777 shares in the company, valued at $212,671,776.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shannon Thyme Klinger sold 1,296 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $162.47, for a total value of $210,561.12. Following the completion of the transaction, the insider now owns 10,623 shares of the company’s stock, valued at $1,725,918.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 351,238 shares of company stock worth $49,455,904. 15.70% of the stock is owned by corporate insiders.

Moderna 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.