William Blair Reiterates “Market Perform” Rating for Moderna (NASDAQ:MRNA)

Moderna (NASDAQ:MRNA)‘s stock had its “market perform” rating reissued by research analysts at William Blair in a note issued to investors on Thursday,RTT News reports.

Several other analysts also recently issued reports on the stock. Leerink Partners reduced their price target on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Barclays lowered shares of Moderna from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $111.00 to $45.00 in a report on Tuesday, February 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Moderna in a research note on Tuesday, February 18th. Citigroup initiated coverage on Moderna in a research note on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective for the company. Finally, UBS Group decreased their price target on Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned 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 $58.70.

Moderna Trading Down 1.1 %

Moderna stock traded down $0.29 during midday trading on Thursday, reaching $24.90. The stock had a trading volume of 1,485,493 shares, compared to its average volume of 7,207,112. The company has a fifty day moving average price of $31.10 and a two-hundred day moving average price of $40.37. The company has a market capitalization of $9.63 billion, a P/E ratio of -2.69 and a beta of 2.23. Moderna has a 12 month low of $23.15 and a 12 month high of $170.47.

Institutional Investors Weigh In On Moderna

Hedge funds and other institutional investors have recently bought and sold shares of the business. abrdn plc lifted its holdings in Moderna by 28.1% during the 4th quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after purchasing an additional 69,360 shares in the last quarter. Spire Wealth Management increased its holdings in Moderna by 2,150.4% during the 4th quarter. Spire Wealth Management now owns 23,224 shares of the company’s stock worth $966,000 after acquiring an additional 22,192 shares during the period. Proficio Capital Partners LLC increased its holdings in Moderna by 4,418.9% during the 4th quarter. Proficio Capital Partners LLC now owns 147,360 shares of the company’s stock worth $6,127,000 after acquiring an additional 144,099 shares during the period. South Dakota Investment Council lifted its stake in Moderna by 4.0% in the 4th quarter. South Dakota Investment Council now owns 299,399 shares of the company’s stock worth $12,449,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Moderna by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company’s stock valued at $300,219,000 after purchasing an additional 171,774 shares in the last quarter. Institutional investors 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.