Moderna (NASDAQ:MRNA) Upgraded by HSBC to Buy Rating

HSBC upgraded shares of Moderna (NASDAQ:MRNA) from a hold rating to a buy rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $58.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Moderna from $178.00 to $139.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their price objective on shares of Moderna from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research note on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $75.00 price target on shares of Moderna in a research note on Thursday, September 19th. Finally, Wolfe Research began coverage on Moderna in a research report on Friday, November 15th. They set an “underperform” rating and a $40.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.00.

Moderna Stock Up 4.0 %

NASDAQ MRNA opened at $38.40 on Monday. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $14.78 billion, a price-to-earnings ratio of -6.60 and a beta of 1.69. The company has a 50 day moving average of $56.13 and a 200-day moving average of $95.05. Moderna has a 1-year low of $35.80 and a 1-year high of $170.47.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($1.89) by $1.92. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.39) EPS. On average, equities research analysts expect that Moderna will post -9.44 earnings per share for the current fiscal year.

Insider Activity at Moderna

In other news, CFO James M. Mock sold 1,321 shares of the firm’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 transaction of $104,874.19. Following the completion of the sale, the chief financial officer now owns 8,600 shares of the company’s stock, valued at $682,754. This trade represents a 13.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 2,930 shares of company stock worth $217,170 over the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRNA. State Street Corp boosted its position in Moderna by 12.1% in the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after purchasing an additional 1,823,276 shares during the last quarter. Geode Capital Management LLC increased its holdings in Moderna by 2.6% during the third quarter. Geode Capital Management LLC now owns 7,069,580 shares of the company’s stock worth $470,670,000 after buying an additional 178,115 shares during the last quarter. Wellington Management Group LLP increased its holdings in Moderna by 21.0% during the third quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock worth $349,166,000 after buying an additional 906,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Moderna by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,890,812 shares of the company’s stock worth $260,023,000 after acquiring an additional 19,819 shares during the period. Finally, Capital World Investors boosted its stake in Moderna by 0.5% in the first 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 during the last quarter. 75.33% of the stock is 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.