JPMorgan Chase & Co. Lowers Moderna (NASDAQ:MRNA) Price Target to $45.00

Moderna (NASDAQ:MRNA) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $59.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.71% from the stock’s previous close.

Several other research analysts also recently commented on the company. HSBC raised Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, November 18th. Piper Sandler restated an “overweight” rating and set a $69.00 price target (down from $115.00) on shares of Moderna in a report on Monday, November 18th. Royal Bank of Canada restated a “sector perform” rating and set a $75.00 price target on shares of Moderna in a report on Thursday, September 19th. Bank of America reduced their price target on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, Sanford C. Bernstein began coverage on Moderna in a report on Thursday, October 17th. They set a “market perform” rating and a $55.00 price target on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Moderna currently has an average rating of “Hold” and a consensus price target of $83.26.

Moderna Stock Up 3.2 %

Shares of NASDAQ MRNA opened at $43.39 on Tuesday. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $16.70 billion, a price-to-earnings ratio of -7.46 and a beta of 1.69. Moderna has a 12 month low of $35.80 and a 12 month high of $170.47. The stock has a 50-day moving average price of $53.32 and a two-hundred day moving average price of $92.28.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($1.89) by $1.92. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.39) earnings per share. As a group, analysts forecast that Moderna will post -9.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Moderna news, CFO James M. Mock sold 715 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the transaction, the chief financial officer now directly owns 9,505 shares in the company, valued at approximately $571,440.60. This represents a 7.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 1,147 shares of company stock worth $76,245. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors have recently modified their holdings of the company. Intrinsic Value Partners LLC raised its position in shares of Moderna by 91.1% during the third 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 shares of Moderna during the third quarter worth approximately $3,550,000. John G Ullman & Associates Inc. raised its position in shares of Moderna by 341.3% during the third 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. raised its position in shares of Moderna by 11.6% during the third 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, Vontobel Holding Ltd. raised its position in shares of Moderna by 148.2% during the third quarter. Vontobel Holding Ltd. now owns 116,088 shares of the company’s stock worth $7,758,000 after purchasing an additional 69,313 shares during the period. 75.33% of the stock is owned by institutional investors and hedge funds.

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.