Moderna’s (MRNA) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Moderna (NASDAQ:MRNA) in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has a $69.00 price target on the stock, down from their previous price target of $115.00.

Several other equities research analysts also recently commented on MRNA. Barclays lowered their target price on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $75.00 price objective on shares of Moderna in a research note on Thursday, September 19th. UBS Group decreased their target price on Moderna from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. HSBC raised Moderna from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on Moderna from $70.00 to $59.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.00.

Moderna Price Performance

Shares of MRNA stock opened at $38.40 on Monday. The firm’s 50 day moving average price is $56.13 and its two-hundred day moving average price is $95.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. Moderna has a 52-week low of $35.80 and a 52-week high of $170.47. The stock has a market cap of $14.78 billion, a PE ratio of -6.60 and a beta of 1.69.

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

Insider Activity at Moderna

In related news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the transaction, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This trade represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 2,930 shares of company stock valued at $217,170. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. State Street Corp increased its position in Moderna by 12.1% during the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after buying an additional 1,823,276 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock worth $349,166,000 after acquiring an additional 906,114 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Moderna in the 3rd quarter valued at $23,825,000. International Assets Investment Management LLC lifted its holdings in Moderna by 10,687.1% during the 3rd quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock valued at $21,353,000 after purchasing an additional 316,552 shares during the last quarter. Finally, Matrix Capital Management Company LP boosted its position in Moderna by 60.8% during the first quarter. Matrix Capital Management Company LP now owns 730,000 shares of the company’s stock worth $77,789,000 after purchasing an additional 276,000 shares during the period. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Moderna Company 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.