Norges Bank Takes $163.83 Million Position in Moderna, Inc. (NASDAQ:MRNA)

Norges Bank bought a new position in Moderna, Inc. (NASDAQ:MRNA) during the fourth quarter, HoldingsChannel reports. The firm bought 3,940,194 shares of the company’s stock, valued at approximately $163,833,000.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB increased its holdings in Moderna by 295.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after purchasing an additional 587 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Moderna by 286.2% during the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after buying an additional 664 shares during the last quarter. Compass Planning Associates Inc bought a new stake in Moderna during the fourth quarter worth $37,000. Crowley Wealth Management Inc. purchased a new stake in Moderna in the 4th quarter valued at $41,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in Moderna by 58.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock valued at $44,000 after buying an additional 389 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MRNA shares. Leerink Partners reduced their target price on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. UBS Group reduced their price objective on shares of Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Citigroup began coverage on shares of Moderna in a research note on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective for the company. Evercore ISI set a $50.00 target price on Moderna in a research note on Friday, February 14th. Finally, Bank of America decreased their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.00.

Moderna Stock Down 8.9 %

NASDAQ MRNA opened at $28.35 on Tuesday. The firm has a market cap of $10.96 billion, a P/E ratio of -3.05 and a beta of 1.86. The company’s 50 day moving average is $34.60 and its 200-day moving average is $43.84. Moderna, Inc. has a 12-month low of $26.80 and a 12-month high of $170.47.

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.