Moderna (NASDAQ:MRNA) Shares Up 7.7% – Here’s What Happened

Moderna, Inc. (NASDAQ:MRNA)’s stock price shot up 7.7% during mid-day trading on Friday . The company traded as high as $36.20 and last traded at $36.93. 2,467,616 shares were traded during mid-day trading, a decline of 80% from the average session volume of 12,320,777 shares. The stock had previously closed at $34.30.

Analyst Upgrades and Downgrades

MRNA has been the subject of several research analyst reports. Leerink Partners dropped their price objective on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Hsbc Global Res upgraded shares of Moderna from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. HSBC upgraded shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, November 18th. Berenberg Bank boosted their price objective on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. set a $45.00 price objective on shares of Moderna in a research report on Friday, February 14th. Four research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.63.

Moderna Trading Up 3.8 %

The company has a market cap of $13.74 billion, a price-to-earnings ratio of -3.84 and a beta of 1.86. The firm’s fifty day moving average price is $36.60 and its 200-day moving average price is $49.03.

Hedge Funds Weigh In On Moderna

Institutional investors and hedge funds have recently made changes to their positions in the company. Intrinsic Value Partners LLC boosted its stake in Moderna by 91.1% in the 3rd quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock worth $3,435,000 after purchasing an additional 24,505 shares during the period. Banco Santander S.A. acquired a new position in Moderna in the 3rd quarter worth $3,550,000. John G Ullman & Associates Inc. boosted its stake in Moderna by 341.3% in the 3rd quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock worth $3,318,000 after purchasing an additional 38,400 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Moderna by 11.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after purchasing an additional 167,596 shares during the period. Finally, abrdn plc boosted its stake in Moderna by 28.1% in the 4th quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after purchasing an additional 69,360 shares during the period. 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.