Moderna (NASDAQ:MRNA) Sets New 52-Week Low – What’s Next?

Moderna, Inc. (NASDAQ:MRNA)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $26.80 and last traded at $28.35, with a volume of 20439330 shares changing hands. The stock had previously closed at $31.12.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, February 11th. Berenberg Bank increased their price target on Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Argus downgraded Moderna from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price target on Moderna from $40.00 to $33.00 and set an “underweight” rating on the stock in a report on Friday, March 21st. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.00.

Moderna Stock Performance

The stock has a market cap of $10.96 billion, a P/E ratio of -3.05 and a beta of 1.86. The stock’s fifty day moving average is $34.60 and its 200 day moving average is $43.84.

Institutional Investors Weigh In On Moderna

Several institutional investors have recently modified their holdings of MRNA. Wilmington Savings Fund Society FSB raised its holdings in Moderna by 295.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after buying an additional 587 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Moderna by 286.2% in the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after acquiring an additional 664 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Moderna in the fourth quarter valued at $37,000. Crowley Wealth Management Inc. bought a new stake in shares of Moderna in the 4th quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Moderna by 51.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock worth $42,000 after purchasing an additional 343 shares during the period. 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.