Sound Income Strategies LLC Grows Position in Moderna, Inc. (NASDAQ:MRNA)

Sound Income Strategies LLC grew its stake in shares of Moderna, Inc. (NASDAQ:MRNA) by 41.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,077 shares of the company’s stock after acquiring an additional 315 shares during the quarter. Sound Income Strategies LLC’s holdings in Moderna were worth $115,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. TB Alternative Assets Ltd. acquired a new position in shares of Moderna in the first quarter worth about $6,383,000. Ballentine Partners LLC increased its holdings in shares of Moderna by 125.4% in the first quarter. Ballentine Partners LLC now owns 4,747 shares of the company’s stock valued at $506,000 after buying an additional 2,641 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of Moderna by 16.9% during the first quarter. Douglas Lane & Associates LLC now owns 393,039 shares of the company’s stock valued at $41,882,000 after purchasing an additional 56,901 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in Moderna during the first quarter valued at $285,000. Finally, Gulf International Bank UK Ltd increased its stake in Moderna by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 26,814 shares of the company’s stock valued at $2,857,000 after buying an additional 228 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group upped their target price on Moderna from $91.00 to $106.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Royal Bank of Canada lifted their target price on shares of Moderna from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. Jefferies Financial Group reissued a “buy” rating and set a $125.00 target price on shares of Moderna in a research report on Tuesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research note on Monday, June 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Moderna in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $129.02.

Insider Buying and Selling

In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $101.68, for a total transaction of $1,525,200.00. Following the sale, the director now directly owns 2,086,931 shares of the company’s stock, valued at $212,199,144.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Moderna news, Director Noubar Afeyan sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $101.68, for a total value of $1,525,200.00. Following the transaction, the director now owns 2,086,931 shares of the company’s stock, valued at $212,199,144.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Stephen Hoge sold 255 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.96, for a total value of $30,844.80. Following the sale, the president now owns 1,486,508 shares in the company, valued at approximately $179,808,007.68. The disclosure for this sale can be found here. Insiders sold 396,255 shares of company stock worth $54,210,631 in the last quarter. 15.70% of the stock is owned by corporate insiders.

Moderna Price Performance

Shares of Moderna stock traded down $15.15 during midday trading on Wednesday, hitting $122.45. 7,716,528 shares of the company were exchanged, compared to its average volume of 4,205,413. The firm has a 50 day simple moving average of $133.02 and a 200-day simple moving average of $111.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.03 and a quick ratio of 3.91. Moderna, Inc. has a 52 week low of $62.55 and a 52 week high of $170.47.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($3.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.59) by $0.52. Moderna had a negative return on equity of 20.10% and a negative net margin of 115.82%. The firm had revenue of $167.00 million during the quarter, compared to analyst estimates of $93.26 million. During the same period in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 91.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Moderna, Inc. will post -7.46 EPS for the current fiscal year.

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.