Moderna (NASDAQ:MRNA) Price Target Lowered to $34.00 at Bank of America

Moderna (NASDAQ:MRNA) had its price objective reduced by Bank of America from $41.00 to $34.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

MRNA has been the topic of a number of other research reports. Evercore ISI lowered their price objective on Moderna from $60.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, January 27th. Hsbc Global Res upgraded Moderna from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. UBS Group lowered their price objective on Moderna from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Moderna in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered 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. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Moderna currently has an average rating of “Hold” and an average target price of $66.89.

Moderna Stock Performance

NASDAQ:MRNA opened at $30.93 on Tuesday. The stock has a market cap of $11.90 billion, a P/E ratio of -5.31 and a beta of 1.59. The stock has a 50 day simple moving average of $39.77 and a 200 day simple moving average of $56.76. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. Moderna has a 1-year low of $30.70 and a 1-year high of $170.47.

Insider Buying and Selling

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $42.79, for a total transaction of $60,676.22. Following the transaction, the insider now directly owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,664 shares of company stock worth $115,210 in the last 90 days. Insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 worth $49,000 after buying an additional 574 shares during the period. Wilmington Savings Fund Society FSB lifted 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 worth $33,000 after buying an additional 587 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Moderna by 286.2% in the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after purchasing an additional 664 shares during the period. Compass Planning Associates Inc acquired a new position in shares of Moderna in the 4th quarter valued at about $37,000. Finally, Larson Financial Group LLC lifted its stake in shares of Moderna by 53.5% in the 3rd quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock valued at $61,000 after purchasing an additional 317 shares during the period. 75.33% of the stock is owned by institutional investors and hedge funds.

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.