Bank of America Lowers Moderna (NASDAQ:MRNA) Price Target to $110.00

Moderna (NASDAQ:MRNA) had its target price reduced by equities researchers at Bank of America from $130.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 62.87% from the company’s current price.

A number of other brokerages have also commented on MRNA. TD Cowen dropped their target price on Moderna from $70.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded Moderna from a “sell” rating to a “hold” rating and dropped their target price for the company from $85.00 to $80.00 in a research report on Wednesday, August 7th. Piper Sandler dropped their target price on Moderna from $157.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday. Finally, Oppenheimer lowered Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Moderna presently has a consensus rating of “Hold” and a consensus target price of $110.50.

Moderna Stock Down 3.1 %

Shares of MRNA stock traded down $2.14 during trading hours on Friday, reaching $67.54. 8,295,169 shares of the company’s stock were exchanged, compared to its average volume of 4,213,832. Moderna has a 1 year low of $62.55 and a 1 year high of $170.47. The stock has a market cap of $25.88 billion, a PE ratio of -4.31 and a beta of 1.67. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $96.06 and its two-hundred day moving average price is $111.86.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The business had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. During the same quarter in the previous year, the firm earned ($3.62) earnings per share. The company’s revenue was down 29.9% on a year-over-year basis. Research analysts predict that Moderna will post -9.52 EPS for the current year.

Insider Transactions at Moderna

In other news, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO James M. Mock sold 689 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $118.24, for a total value of $81,467.36. Following the completion of the transaction, the chief financial officer now directly owns 7,269 shares of the company’s stock, valued at approximately $859,486.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James M. Mock sold 1,321 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at $682,754. The disclosure for this sale can be found here. Insiders sold a total of 108,158 shares of company stock valued at $13,239,712 in the last three months. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRNA. Ashton Thomas Private Wealth LLC acquired a new position in Moderna in the 2nd quarter valued at $26,000. Ogorek Anthony Joseph NY ADV acquired a new position in Moderna in the 4th quarter valued at $27,000. Cedar Wealth Management LLC raised its stake in Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after purchasing an additional 90 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Moderna in the 1st quarter valued at $32,000. Finally, Family Firm Inc. acquired a new position in Moderna in the 2nd quarter valued at $33,000. 75.33% of the stock is 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.