Moderna (NASDAQ:MRNA) Trading Down 7.9% Following Analyst Downgrade

Moderna, Inc. (NASDAQ:MRNA)’s stock price dropped 7.9% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $96.00 to $78.00. UBS Group currently has a buy rating on the stock. Moderna traded as low as $33.12 and last traded at $33.07. Approximately 7,547,098 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 12,792,683 shares. The stock had previously closed at $35.90.

A number of other analysts also recently weighed in on the stock. Barclays downgraded shares of Moderna from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $111.00 to $45.00 in a research report on Tuesday. Bank of America decreased their price target on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on Moderna from $59.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 26th. Berenberg Bank lifted their target price on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Evercore ISI dropped their price target on Moderna from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.63.

Insiders Place Their Bets

In other news, insider Shannon Thyme Klinger sold 1,418 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $42.79, for a total value 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. This represents a 6.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 2,664 shares of company stock valued at $115,210 in the last 90 days. 15.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Moderna

A number of institutional investors have recently bought and sold shares of MRNA. Blue Trust Inc. lifted its holdings in Moderna by 365.6% during the 3rd quarter. Blue Trust Inc. now owns 731 shares of the company’s stock valued at $49,000 after purchasing an additional 574 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Moderna by 19.7% during the 3rd quarter. Raymond James & Associates now owns 162,074 shares of the company’s stock worth $10,831,000 after buying an additional 26,657 shares during the last quarter. Eastern Bank boosted its holdings in shares of Moderna by 2.3% during the 3rd quarter. Eastern Bank now owns 14,578 shares of the company’s stock worth $974,000 after buying an additional 334 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Moderna by 1.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 529,686 shares of the company’s stock worth $35,399,000 after buying an additional 7,060 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its stake in Moderna by 9.7% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 6,087 shares of the company’s stock valued at $407,000 after buying an additional 537 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Stock Performance

The company has a fifty day moving average of $38.35 and a two-hundred day moving average of $53.34. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of -3.56 and a beta of 1.59.

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.