Citigroup Initiates Coverage on Moderna (NASDAQ:MRNA)

Citigroup assumed coverage on shares of Moderna (NASDAQ:MRNA) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a neutral rating and a $40.00 target price on the stock.

Several other research firms also recently weighed in on MRNA. Bank of America reduced their target price on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, February 11th. Evercore ISI set a $50.00 price objective on shares of Moderna in a research note on Friday, February 14th. UBS Group lowered their target price on shares of Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Leerink Partners cut their price target on Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Finally, Berenberg Bank boosted their price objective on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Moderna presently has an average rating of “Hold” and a consensus target price of $59.60.

Moderna Stock Performance

MRNA stock opened at $34.30 on Thursday. The stock has a fifty day moving average of $36.09 and a 200-day moving average of $47.92. Moderna has a fifty-two week low of $29.25 and a fifty-two week high of $170.47. The company has a market capitalization of $13.23 billion, a price-to-earnings ratio of -3.70 and a beta of 1.86.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Banco Santander S.A. purchased a new stake in Moderna during the third quarter valued at about $3,550,000. John G Ullman & Associates Inc. boosted its stake in shares of Moderna by 341.3% during the third quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock valued at $3,318,000 after purchasing an additional 38,400 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Moderna by 11.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock valued at $107,885,000 after purchasing an additional 167,596 shares during the period. abrdn plc grew its holdings in shares of Moderna by 28.1% in the fourth quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after purchasing an additional 69,360 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Moderna by 30.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 101,159 shares of the company’s stock valued at $6,760,000 after buying an additional 23,881 shares during the last quarter. Institutional investors own 75.33% of the company’s stock.

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.