Moderna (NASDAQ:MRNA) Given New $50.00 Price Target at Evercore ISI

Moderna (NASDAQ:MRNA) had its price target cut by stock analysts at Evercore ISI from $60.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target indicates a potential upside of 16.44% from the stock’s previous close.

MRNA has been the topic of a number of other reports. HSBC raised shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, November 18th. Berenberg Bank upped their target price on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Argus downgraded Moderna from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Wolfe Research assumed coverage on shares of Moderna in a research note on Friday, November 15th. They issued an “underperform” rating and a $40.00 price objective for the company. Finally, Barclays cut their target price on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.89.

Moderna Price Performance

Shares of NASDAQ MRNA traded up $1.53 during mid-day trading on Monday, hitting $42.94. 3,965,307 shares of the company’s stock traded hands, compared to its average volume of 12,226,221. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. Moderna has a 1 year low of $31.94 and a 1 year high of $170.47. The company’s 50-day moving average is $40.60 and its two-hundred day moving average is $63.29. The company has a market capitalization of $16.52 billion, a P/E ratio of -7.39 and a beta of 1.60.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($1.89) by $1.92. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.25 billion. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.39) earnings per share. On average, equities analysts anticipate that Moderna will post -9.27 EPS for the current fiscal year.

Insider Transactions at Moderna

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the sale, the insider now owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. This represents a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 2,664 shares of company stock valued at $115,210 over the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On Moderna

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Moderna by 58.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock worth $44,000 after buying an additional 389 shares in the last quarter. Blue Trust Inc. grew its position in shares of Moderna by 53.1% during the fourth quarter. Blue Trust Inc. now owns 1,119 shares of the company’s stock worth $47,000 after acquiring an additional 388 shares during the last quarter. EMC Capital Management increased its stake in Moderna by 311.2% in the fourth quarter. EMC Capital Management now owns 1,250 shares of the company’s stock valued at $52,000 after purchasing an additional 946 shares during the period. Larson Financial Group LLC raised its stake in Moderna by 53.5% during the 3rd quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock valued at $61,000 after acquiring an additional 317 shares during the last quarter. Finally, Rakuten Securities Inc. increased its holdings in shares of Moderna by 477.3% in the third quarter. Rakuten Securities Inc. now owns 941 shares of the company’s stock valued at $63,000 after purchasing an additional 778 shares during the period. 75.33% of the stock is owned by hedge funds and other 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.