California Public Employees Retirement System Sells 483,267 Shares of Moderna, Inc. (NASDAQ:MRNA)

California Public Employees Retirement System cut its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 55.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,759 shares of the company’s stock after selling 483,267 shares during the quarter. California Public Employees Retirement System’s holdings in Moderna were worth $16,289,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in shares of Moderna by 7.0% in the 3rd quarter. Cerity Partners LLC now owns 13,769 shares of the company’s stock valued at $920,000 after buying an additional 900 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Moderna in the third quarter valued at $150,000. Townsquare Capital LLC grew its position in shares of Moderna by 42.7% in the 3rd quarter. Townsquare Capital LLC now owns 5,288 shares of the company’s stock valued at $353,000 after acquiring an additional 1,583 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Moderna by 18.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 16,380 shares of the company’s stock worth $1,095,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Moderna by 14,009.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,374 shares of the company’s stock valued at $292,000 after purchasing an additional 4,343 shares during the period. 75.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MRNA has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price objective on shares of Moderna in a research note on Tuesday, February 18th. Barclays downgraded Moderna from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $111.00 to $45.00 in a report on Tuesday, February 18th. Morgan Stanley decreased their price objective on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Evercore ISI set a $50.00 target price on shares of Moderna in a research note on Friday, February 14th. Finally, 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 target on the stock. Four equities 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Trading Down 2.4 %

Shares of Moderna stock opened at $25.11 on Friday. The company has a 50 day moving average of $33.55 and a 200-day moving average of $43.01. The company has a market cap of $9.71 billion, a PE ratio of -2.71 and a beta of 2.23. Moderna, Inc. has a 1-year low of $23.76 and a 1-year 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.