Allstate Corp Takes Position in Moderna, Inc. (NASDAQ:MRNA)

Allstate Corp bought a new position in Moderna, Inc. (NASDAQ:MRNA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,514 shares of the company’s stock, valued at approximately $396,000.

A number of other institutional investors have also recently bought and sold shares of MRNA. Allworth Financial LP boosted its holdings in shares of Moderna by 17.3% in the 4th quarter. Allworth Financial LP now owns 1,901 shares of the company’s stock valued at $73,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. grew its position in Moderna by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 9,994 shares of the company’s stock valued at $416,000 after acquiring an additional 297 shares during the period. Commonwealth Equity Services LLC increased its stake in Moderna by 0.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 74,520 shares of the company’s stock worth $3,099,000 after acquiring an additional 345 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Moderna by 39.1% in the 4th quarter. Larson Financial Group LLC now owns 1,266 shares of the company’s stock valued at $53,000 after purchasing an additional 356 shares in the last quarter. Finally, New Insight Wealth Advisors lifted its stake in shares of Moderna by 4.4% in the 4th quarter. New Insight Wealth Advisors now owns 8,545 shares of the company’s stock valued at $355,000 after purchasing an additional 358 shares in the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MRNA shares. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price target on shares of Moderna in a report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Moderna from a “buy” rating to a “neutral” rating and reduced their target price for the company from $99.00 to $51.00 in a report on Wednesday, January 29th. Evercore ISI set a $50.00 price objective on Moderna in a research report on Friday, February 14th. UBS Group lowered their target price on Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Leerink Partners reduced their price target on Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Moderna presently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Stock Performance

Shares of NASDAQ:MRNA opened at $27.72 on Thursday. The company’s fifty day moving average is $34.21 and its two-hundred day moving average is $43.44. Moderna, Inc. has a 1-year low of $26.26 and a 1-year high of $170.47. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of -2.99 and a beta of 1.86.

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.