CIBC Asset Management Inc Lowers Position in Moderna, Inc. (NASDAQ:MRNA)

CIBC Asset Management Inc reduced its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 53.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,904 shares of the company’s stock after selling 60,918 shares during the period. CIBC Asset Management Inc’s holdings in Moderna were worth $2,200,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MRNA. State Street Corp raised its stake in shares of Moderna by 12.1% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its holdings in Moderna by 2.6% during the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock worth $470,670,000 after acquiring an additional 178,115 shares during the period. Wellington Management Group LLP raised its position in Moderna by 21.0% in the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Moderna by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company’s stock valued at $260,023,000 after acquiring an additional 19,819 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Moderna by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,073,934 shares of the company’s stock worth $205,431,000 after purchasing an additional 178,939 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Trading Up 5.3 %

Moderna stock opened at $35.53 on Friday. The stock has a fifty day moving average price of $38.17 and a 200 day moving average price of $53.20. Moderna, Inc. has a 52 week low of $29.25 and a 52 week high of $170.47. The firm has a market capitalization of $13.67 billion, a P/E ratio of -3.83 and a beta of 1.59.

Analysts Set New Price Targets

Several brokerages recently commented on MRNA. HSBC upgraded shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, November 18th. Piper Sandler reiterated an “overweight” rating and set a $69.00 price target (down from $115.00) on shares of Moderna in a research report on Monday, November 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price objective on shares of Moderna in a report on Tuesday. Leerink Partners decreased their target price on Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Finally, Argus cut Moderna from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Moderna presently has a consensus rating of “Hold” and an average target price of $60.63.

Insider Buying and Selling at Moderna

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