Moderna (NASDAQ:MRNA) Price Target Lowered to $32.00 at Morgan Stanley

Moderna (NASDAQ:MRNA) had its target price trimmed by Morgan Stanley from $39.00 to $32.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

MRNA has been the topic of several other reports. Berenberg Bank upped their price objective on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Argus lowered Moderna from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price objective on shares of Moderna in a research note on Tuesday, February 18th. Leerink Partners reduced their price target on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating for the company in a research report on Friday, March 21st. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.70.

Moderna Stock Performance

Shares of NASDAQ:MRNA traded down $1.95 on Wednesday, hitting $24.72. The stock had a trading volume of 8,706,951 shares, compared to its average volume of 7,121,772. The firm’s 50 day moving average price is $31.96 and its 200-day moving average price is $41.54. Moderna has a twelve month low of $23.15 and a twelve month high of $170.47. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of -2.66 and a beta of 2.23.

Institutional Trading of Moderna

Hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB grew its position in shares of Moderna by 295.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after purchasing an additional 587 shares during the period. Venturi Wealth Management LLC increased its holdings in Moderna by 286.2% during the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after purchasing an additional 664 shares in the last quarter. Compass Planning Associates Inc bought a new stake in shares of Moderna in the fourth quarter valued at about $37,000. Crowley Wealth Management Inc. bought a new position in Moderna in the fourth quarter valued at $41,000. Finally, Itau Unibanco Holding S.A. raised its holdings in Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock worth $42,000 after acquiring an additional 343 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.