JPMorgan Chase & Co. Has Lowered Expectations for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA) had its target price decreased by analysts at JPMorgan Chase & Co. from $59.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 3.85% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Moderna in a report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Moderna from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, August 7th. Wolfe Research assumed coverage on Moderna in a report on Friday, November 15th. They issued an “underperform” rating and a $40.00 target price on the stock. TD Cowen reduced their price target on Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Finally, Oppenheimer cut Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Moderna presently has an average rating of “Hold” and an average price target of $83.26.

Moderna Stock Down 0.8 %

Shares of Moderna stock opened at $43.33 on Tuesday. The company’s 50 day moving average price is $54.45 and its 200-day moving average price is $93.15. Moderna has a 52-week low of $35.80 and a 52-week high of $170.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of -7.45 and a beta of 1.69.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($1.89) by $1.92. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned ($1.39) EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Moderna will post -9.44 EPS for the current year.

Insider Transactions at Moderna

In related news, CFO James M. Mock sold 715 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. This represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 2,930 shares of company stock worth $217,170. 15.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Moderna

Several institutional investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its position in Moderna by 1.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 287,887 shares of the company’s stock worth $19,239,000 after buying an additional 3,978 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Moderna by 23.7% in the third quarter. Toronto Dominion Bank now owns 131,477 shares of the company’s stock worth $8,787,000 after acquiring an additional 25,177 shares during the period. Geode Capital Management LLC grew its holdings in Moderna by 2.6% in the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock valued at $470,670,000 after purchasing an additional 178,115 shares during the period. Groupama Asset Managment increased its holdings in Moderna by 29.1% in the 3rd quarter. Groupama Asset Managment now owns 21,838 shares of the company’s stock worth $1,459,000 after acquiring an additional 4,920 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Moderna by 1.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 114,335 shares of the company’s stock worth $7,641,000 after purchasing an additional 1,635 shares during the last quarter. Hedge funds and other 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.