Letko Brosseau & Associates Inc. Reduces Holdings in Moderna, Inc. (NASDAQ:MRNA)

Letko Brosseau & Associates Inc. reduced its position in Moderna, Inc. (NASDAQ:MRNA) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 315,400 shares of the company’s stock after selling 4,650 shares during the period. Letko Brosseau & Associates Inc. owned 0.08% of Moderna worth $37,454,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Ogorek Anthony Joseph NY ADV purchased a new position in shares of Moderna during the fourth quarter worth about $27,000. Family Firm Inc. purchased a new stake in shares of Moderna during the second quarter worth approximately $33,000. Cedar Wealth Management LLC grew its position in Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after buying an additional 90 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Moderna in the 1st quarter valued at $32,000. Finally, Bank & Trust Co purchased a new position in Moderna during the 2nd quarter worth $36,000. 75.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Moderna

In other news, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at $682,754. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Moderna news, CFO James M. Mock sold 1,321 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the sale, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at approximately $682,754. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James M. Mock sold 689 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at $859,486.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 316,168 shares of company stock valued at $44,094,621. 15.70% of the stock is owned by insiders.

Analyst Ratings Changes

MRNA has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered shares of Moderna from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $125.00 to $90.00 in a research note on Monday, August 5th. Barclays reduced their price target on Moderna from $168.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Oppenheimer lifted their price target on Moderna from $163.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Evercore ISI reiterated an “in-line” rating and issued a $120.00 price objective on shares of Moderna in a research report on Thursday, June 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Moderna in a research report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.79.

Moderna Price Performance

Shares of MRNA stock traded down $0.55 during trading hours on Friday, hitting $72.89. The company’s stock had a trading volume of 3,425,366 shares, compared to its average volume of 4,078,099. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $100.18 and a 200-day moving average of $112.42. Moderna, Inc. has a twelve month low of $62.55 and a twelve month high of $170.47. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of -4.65 and a beta of 1.67.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping the consensus estimate of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The company had revenue of $241.00 million during the quarter, compared to the consensus estimate of $128.41 million. During the same quarter last year, the business posted ($3.62) earnings per share. Moderna’s revenue was down 29.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Moderna, Inc. will post -9.52 EPS for the current year.

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.