Moderna, Inc. (NASDAQ:MRNA) Stock Holdings Decreased by Sit Investment Associates Inc.

Sit Investment Associates Inc. lessened its position in Moderna, Inc. (NASDAQ:MRNA) by 59.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,409 shares of the company’s stock after selling 10,675 shares during the quarter. Sit Investment Associates Inc.’s holdings in Moderna were worth $308,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Moderna in the fourth quarter valued at $163,833,000. State Street Corp lifted its stake in Moderna by 12.1% in the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after acquiring an additional 1,823,276 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Moderna by 170.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock worth $73,447,000 after acquiring an additional 1,113,455 shares during the period. Wellington Management Group LLP grew its stake in Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after acquiring an additional 906,114 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of Moderna in the 4th quarter valued at about $22,778,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Stock Down 2.4 %

Shares of NASDAQ:MRNA opened at $25.11 on Monday. The company has a market cap of $9.71 billion, a price-to-earnings ratio of -2.71 and a beta of 2.23. The business has a 50 day moving average price of $33.55 and a 200 day moving average price of $42.61. Moderna, Inc. has a twelve month low of $23.76 and a twelve month high of $170.47.

Wall Street Analysts Forecast Growth

MRNA has been the subject of several research reports. Barclays cut shares of Moderna from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $111.00 to $45.00 in a report on Tuesday, February 18th. UBS Group lowered their price target on shares of Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley cut their price objective on Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. The Goldman Sachs Group downgraded Moderna from a “buy” rating to a “neutral” rating and lowered their target price for the company from $99.00 to $51.00 in a research note on Wednesday, January 29th. Finally, Citigroup initiated coverage on Moderna in a research note on Thursday, March 13th. They set a “neutral” rating and a $40.00 price target for the company. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Moderna presently has a consensus rating of “Hold” and an average price target of $59.00.

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.