Moderna (NASDAQ:MRNA) Price Target Cut to $34.00 by Analysts at Bank of America

Moderna (NASDAQ:MRNA) had its price objective cut by equities researchers at Bank of America from $41.00 to $34.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential upside of 6.68% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Berenberg Bank boosted their price objective on shares of Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on Moderna from $59.00 to $45.00 and set an “underweight” rating for the company in a report on Tuesday, November 26th. The Goldman Sachs Group downgraded Moderna from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and issued a $69.00 target price (down from $115.00) on shares of Moderna in a report on Monday, November 18th. Finally, Barclays cut their price target on Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $66.89.

Moderna Stock Down 2.2 %

NASDAQ:MRNA opened at $31.87 on Tuesday. The stock has a fifty day simple moving average of $40.01 and a 200-day simple moving average of $57.38. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $12.26 billion, a price-to-earnings ratio of -5.48 and a beta of 1.59. Moderna has a twelve month low of $31.66 and a twelve month high of $170.47.

Insider Transactions at Moderna

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the transaction, the insider now directly owns 19,717 shares of the company’s stock, valued at $843,690.43. This trade represents a 6.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 2,664 shares of company stock valued at $115,210 in the last quarter. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MRNA. State Street Corp lifted its stake in shares of Moderna by 12.1% during the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after buying an additional 1,823,276 shares during the period. Wellington Management Group LLP lifted its position in Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock worth $349,166,000 after acquiring an additional 906,114 shares during the period. Amundi grew its stake in Moderna by 79.8% during the 4th quarter. Amundi now owns 1,206,273 shares of the company’s stock valued at $52,075,000 after purchasing an additional 535,273 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Moderna in the third quarter valued at about $23,825,000. Finally, International Assets Investment Management LLC raised its stake in shares of Moderna by 10,687.1% in the third quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock worth $21,353,000 after purchasing an additional 316,552 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.