Moderna (NASDAQ:MRNA) Price Target Cut to $115.00

Moderna (NASDAQ:MRNA) had its price target decreased by Piper Sandler from $157.00 to $115.00 in a report issued on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group cut Moderna from a buy rating to a hold rating and lowered their price target for the company from $120.00 to $65.00 in a report on Friday. The Goldman Sachs Group dropped their price target on shares of Moderna from $204.00 to $178.00 and set a buy rating for the company in a research report on Friday, August 2nd. Barclays lowered their price objective on shares of Moderna from $168.00 to $155.00 and set an overweight rating for the company in a research note on Friday, August 2nd. William Blair reaffirmed a market perform rating on shares of Moderna in a research report on Thursday, June 27th. Finally, Evercore ISI reiterated an in-line rating and issued a $120.00 target price on shares of Moderna in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $103.93.

Moderna Stock Performance

NASDAQ:MRNA opened at $69.17 on Friday. Moderna has a 1-year low of $62.55 and a 1-year high of $170.47. The firm has a 50 day simple moving average of $94.12 and a 200-day simple moving average of $111.72. The firm has a market cap of $26.51 billion, a PE ratio of -4.41 and a beta of 1.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, beating 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 period in the previous year, the firm posted ($3.62) EPS. Moderna’s revenue was down 29.9% on a year-over-year basis. On average, equities analysts expect that Moderna will post -9.52 EPS for the current year.

Insider Activity

In other Moderna news, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Moderna news, CFO James M. Mock sold 689 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $118.24, for a total value of $81,467.36. Following the transaction, the chief financial officer now directly owns 7,269 shares of the company’s stock, valued at approximately $859,486.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James M. Mock sold 1,321 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 93,158 shares of company stock worth $11,167,312. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC raised its stake in shares of 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 purchasing an additional 90 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Moderna by 1.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock valued at $660,000 after buying an additional 93 shares during the last quarter. CVA Family Office LLC raised its stake in Moderna by 21.6% during the second quarter. CVA Family Office LLC now owns 541 shares of the company’s stock valued at $64,000 after buying an additional 96 shares in the last quarter. Claro Advisors LLC lifted its holdings in Moderna by 2.0% during the 2nd quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock worth $659,000 after buying an additional 108 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Moderna by 32.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock worth $47,000 after buying an additional 116 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.

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.