Moderna (NASDAQ:MRNA) Trading Down 6.3% – What’s Next?

Moderna, Inc. (NASDAQ:MRNA) was down 6.3% on Tuesday . The company traded as low as $34.08 and last traded at $33.69. Approximately 1,468,336 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 12,428,438 shares. The stock had previously closed at $35.96.

Wall Street Analyst Weigh In

MRNA has been the subject of several recent analyst reports. Barclays downgraded Moderna from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $111.00 to $45.00 in a research note on Tuesday, February 18th. Morgan Stanley cut their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Wolfe Research assumed coverage on shares of Moderna in a report on Friday, November 15th. They set an “underperform” rating and a $40.00 price objective for the company. Hsbc Global Res raised Moderna from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $40.00 price target on shares of Moderna in a report on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Moderna presently has a consensus rating of “Hold” and a consensus target price of $60.63.

Moderna Stock Performance

The firm has a market capitalization of $12.69 billion, a PE ratio of -3.55 and a beta of 1.86. The stock has a fifty day moving average price of $36.53 and a 200-day moving average price of $48.45.

Institutional Investors Weigh In On Moderna

Several hedge funds have recently added to or reduced their stakes in the business. Intrinsic Value Partners LLC raised its position in Moderna by 91.1% during the third quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock valued at $3,435,000 after acquiring an additional 24,505 shares in the last quarter. Banco Santander S.A. acquired a new position in shares of Moderna in the 3rd quarter valued at $3,550,000. John G Ullman & Associates Inc. boosted its holdings in Moderna by 341.3% during the third quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock worth $3,318,000 after buying an additional 38,400 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in 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 buying an additional 167,596 shares during the period. Finally, abrdn plc raised its position 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 acquiring an additional 69,360 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

About Moderna

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.