Financial Gravity Asset Management Inc. Raises Stock Position in Moderna, Inc. (NASDAQ:MRNA)

Financial Gravity Asset Management Inc. increased its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,191 shares of the company’s stock after acquiring an additional 946 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Moderna were worth $2,160,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MRNA. Ogorek Anthony Joseph NY ADV purchased a new position in Moderna during the 4th quarter valued at about $27,000. Family Firm Inc. acquired a new stake in shares of Moderna in the second quarter valued at approximately $33,000. Cedar Wealth Management LLC increased its stake in shares of Moderna by 45.0% during the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after purchasing an additional 90 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of Moderna during the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co purchased a new stake in Moderna in the 2nd quarter valued at approximately $36,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Moderna Trading Down 0.7 %

Shares of MRNA opened at $72.89 on Friday. Moderna, Inc. has a twelve month low of $62.55 and a twelve month high of $170.47. The firm has a market capitalization of $27.93 billion, a P/E ratio of -4.65 and a beta of 1.67. 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 stock’s fifty day simple moving average is $99.26 and its 200 day simple moving average is $112.31.

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

Insider Buying and Selling

In other Moderna news, CFO James M. Mock sold 1,321 shares of Moderna stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the transaction, the chief financial officer now directly owns 8,600 shares of the company’s stock, valued at $682,754. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO James M. Mock sold 1,321 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the sale, the chief financial officer now directly owns 8,600 shares in the company, valued at approximately $682,754. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.96, for a total value of $1,799,400.00. Following the transaction, the director now owns 2,224,015 shares in the company, valued at approximately $266,792,839.40. 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 currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on MRNA shares. JPMorgan Chase & Co. dropped their price target on Moderna from $96.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Barclays dropped their price objective on Moderna from $168.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group cut their target price on shares of Moderna from $204.00 to $178.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res raised shares of Moderna from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Evercore ISI reissued an “in-line” rating and issued a $120.00 price objective on shares of Moderna in a research report on Thursday, June 27th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Moderna presently has a consensus rating of “Hold” and an average price target of $123.79.

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.