Moderna (NASDAQ:MRNA) Rating Lowered to Market Perform at Oppenheimer

Moderna (NASDAQ:MRNA) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Friday, Marketbeat reports.

Several other research analysts have also recently commented on the stock. William Blair restated a “market perform” rating on shares of Moderna in a research report on Thursday, June 27th. Hsbc Global Res raised Moderna from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI reissued an “in-line” rating and issued a $120.00 price target on shares of Moderna in a research note on Thursday, June 27th. Piper Sandler restated an “overweight” rating and set a $157.00 price objective (down from $214.00) on shares of Moderna in a research note on Friday, August 2nd. Finally, Barclays reduced their price objective on shares of Moderna from $168.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $115.21.

Moderna Stock Down 12.4 %

NASDAQ:MRNA opened at $69.68 on Friday. 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 has a 50 day moving average of $96.06 and a 200-day moving average of $111.86. The firm has a market capitalization of $26.70 billion, a PE ratio of -4.45 and a beta of 1.67. Moderna has a 52 week low of $62.55 and a 52 week high of $170.47.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. During the same period last year, the company earned ($3.62) earnings per share. The firm’s revenue for the quarter was down 29.9% on a year-over-year basis. Analysts predict that Moderna will post -9.52 EPS for the current year.

Insider Activity

In related news, CFO James M. Mock sold 689 shares of Moderna 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 transaction, the chief financial officer now directly owns 7,269 shares in the company, valued at approximately $859,486.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at $682,754. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James M. Mock sold 689 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at approximately $859,486.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,158 shares of company stock worth $13,239,712. Insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Several large investors have recently added to or reduced their stakes in MRNA. Ashton Thomas Private Wealth LLC purchased a new position in shares of Moderna during the second quarter valued at $26,000. Ogorek Anthony Joseph NY ADV acquired a new stake in Moderna during the 4th quarter worth about $27,000. Cedar Wealth Management LLC grew its stake in Moderna by 45.0% during the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after acquiring an additional 90 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of Moderna in the 1st quarter valued at about $32,000. Finally, Family Firm Inc. purchased a new stake in shares of Moderna in the second quarter worth approximately $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.