Moderna (NASDAQ:MRNA) Stock Price Up 8.8% – Time to Buy?

Moderna, Inc. (NASDAQ:MRNA)’s stock price was up 8.8% during trading on Tuesday . The company traded as high as $35.00 and last traded at $35.90. Approximately 3,115,410 shares traded hands during trading, a decline of 75% from the average daily volume of 12,516,600 shares. The stock had previously closed at $32.99.

Analyst Ratings Changes

A number of equities research analysts have commented on MRNA shares. Evercore ISI lowered their target price on Moderna from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 price objective on shares of Moderna in a report on Tuesday. Berenberg Bank increased their target price on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. HSBC raised 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. Finally, UBS Group cut their price objective on Moderna from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.58.

Moderna Stock Performance

The stock has a 50-day moving average of $38.61 and a 200 day moving average of $53.82. The firm has a market capitalization of $13.75 billion, a P/E ratio of -6.14 and a beta of 1.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39.

Insider Buying and Selling at Moderna

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $42.79, for a total value of $60,676.22. Following the sale, the insider now owns 19,717 shares of the company’s stock, valued at $843,690.43. This trade represents a 6.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 2,664 shares of company stock valued at $115,210 in the last 90 days. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of Moderna

Several hedge funds and other institutional investors have recently modified their holdings of MRNA. Norges Bank acquired a new stake in shares of Moderna in the 4th quarter valued at about $163,833,000. Voloridge Investment Management LLC grew its holdings in shares of Moderna by 335.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock valued at $107,727,000 after acquiring an additional 1,996,003 shares in the last quarter. State Street Corp grew its holdings in shares of Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after acquiring an additional 1,823,276 shares in the last quarter. FMR LLC grew its holdings in shares of Moderna by 7.4% in the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after acquiring an additional 1,282,469 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Moderna by 170.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock valued at $73,447,000 after acquiring an additional 1,113,455 shares in the last quarter. Institutional investors and hedge funds 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.