Bank of America Has Lowered Expectations for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA) had its target price decreased by Bank of America from $41.00 to $34.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price objective indicates a potential upside of 11.37% from the stock’s current price.

MRNA has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $69.00 price target (down previously from $115.00) on shares of Moderna in a research note on Monday, November 18th. HSBC upgraded Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, November 18th. Sanford C. Bernstein assumed coverage on Moderna in a research note on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price target for the company. Hsbc Global Res upgraded Moderna from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.89.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $30.53 on Tuesday. The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $39.53 and its two-hundred day moving average price is $56.11. The company has a market cap of $11.75 billion, a PE ratio of -5.25 and a beta of 1.59. Moderna has a twelve month low of $30.24 and a twelve month high of $170.47.

Insider Buying and Selling

In related news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the sale, the insider now directly owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 2,664 shares of company stock worth $115,210 in the last ninety days. 15.70% of the stock is owned by insiders.

Institutional Trading of Moderna

A number of hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors lifted its stake in shares of Moderna by 2.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 11,429 shares of the company’s stock valued at $764,000 after acquiring an additional 243 shares during the last quarter. Knuff & Co LLC increased its holdings in Moderna by 5.4% in the 3rd quarter. Knuff & Co LLC now owns 4,732 shares of the company’s stock worth $316,000 after purchasing an additional 244 shares in the last quarter. Stephens Inc. AR raised its position in Moderna by 7.9% in the third quarter. Stephens Inc. AR now owns 3,334 shares of the company’s stock valued at $223,000 after purchasing an additional 245 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Moderna by 17.3% during the fourth quarter. Allworth Financial LP now owns 1,901 shares of the company’s stock valued at $73,000 after purchasing an additional 281 shares in the last quarter. Finally, Howard Capital Management Inc. grew its holdings in shares of Moderna by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 9,994 shares of the company’s stock worth $416,000 after purchasing an additional 297 shares during the last quarter. Institutional investors and hedge funds 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.