Moderna (NASDAQ:MRNA) Given New $59.00 Price Target at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its target price decreased by JPMorgan Chase & Co. from $70.00 to $59.00 in a report issued on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other research firms have also commented on MRNA. Jefferies Financial Group cut their price target on Moderna from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, October 15th. UBS Group dropped their price objective on Moderna from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Bank of America dropped their price objective on Moderna from $130.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. HSBC raised Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price objective for the company in a research note on Wednesday, August 28th. Finally, Piper Sandler dropped their price objective on Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $94.00.

Moderna Price Performance

Moderna stock opened at $51.81 on Monday. Moderna has a one year low of $49.60 and a one year high of $170.47. The business has a fifty day moving average price of $63.00 and a 200-day moving average price of $99.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. The firm has a market capitalization of $19.92 billion, a P/E ratio of -3.37 and a beta of 1.69.

Insider Transactions at Moderna

In other news, CFO James M. Mock sold 715 shares of Moderna stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the transaction, the chief financial officer now owns 9,505 shares in the company, valued at approximately $571,440.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO James M. Mock sold 715 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the transaction, the chief financial officer now owns 9,505 shares in the company, valued at $571,440.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,184 shares of company stock worth $238,531. Company insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Moderna by 15.1% during the 1st quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock valued at $4,159,769,000 after acquiring an additional 5,129,800 shares in the last quarter. Capital World Investors boosted its position in Moderna by 0.5% during the 1st quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock valued at $388,743,000 after acquiring an additional 18,728 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in Moderna by 6.7% during the 1st quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock valued at $204,230,000 after acquiring an additional 120,621 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Moderna by 11.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock valued at $107,885,000 after acquiring an additional 167,596 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Moderna by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,427,300 shares of the company’s stock valued at $169,542,000 after acquiring an additional 29,566 shares in the last quarter. Hedge funds and other 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.