Moderna (NASDAQ:MRNA) Earns “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Moderna (NASDAQ:MRNA) in a research note published on Tuesday,Benzinga reports. They currently have a $40.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Leerink Partners dropped their target price on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $69.00 target price (down from $115.00) on shares of Moderna in a report on Monday, November 18th. Argus cut shares of Moderna from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on shares of Moderna from $59.00 to $45.00 and set an “underweight” rating for the company in a research report on Tuesday, November 26th. Finally, Bank of America decreased their target price on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.63.

Moderna Trading Down 6.0 %

NASDAQ MRNA opened at $33.73 on Tuesday. The company’s fifty day simple moving average is $38.17 and its 200-day simple moving average is $53.20. Moderna has a 52 week low of $29.25 and a 52 week high of $170.47. The stock has a market cap of $12.98 billion, a P/E ratio of -3.63 and a beta of 1.59.

Insider Buying and Selling

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the transaction, the insider now directly owns 19,717 shares in the company, valued at approximately $843,690.43. This represents a 6.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,664 shares of company stock worth $115,210 in the last 90 days. Corporate insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Forum Financial Management LP acquired a new position in Moderna during the 4th quarter valued at about $225,000. Blue Sky Capital Consultants Group Inc. acquired a new position in Moderna during the 4th quarter valued at about $606,000. GF Fund Management CO. LTD. acquired a new position in Moderna during the 4th quarter valued at about $372,000. Vega Investment Solutions acquired a new position in Moderna during the 4th quarter valued at about $45,000. Finally, Alpine Global Management LLC bought a new stake in shares of Moderna in the 4th quarter valued at about $224,000. 75.33% of the stock is currently 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.