Moderna’s (MRNA) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Moderna (NASDAQ:MRNA)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $40.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 11.97% from the stock’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Moderna from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Morgan Stanley dropped their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Evercore ISI decreased their price objective on shares of Moderna from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. UBS Group lowered their price objective on shares of Moderna from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Hsbc Global Res raised Moderna from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.58.

Moderna Price Performance

MRNA traded up $2.73 during trading on Tuesday, reaching $35.72. The company’s stock had a trading volume of 15,358,387 shares, compared to its average volume of 12,916,324. The firm has a fifty day simple moving average of $38.61 and a two-hundred day simple moving average of $53.82. The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $13.75 billion, a price-to-earnings ratio of -6.14 and a beta of 1.59. Moderna has a 1 year low of $29.25 and a 1 year high of $170.47.

Insider Buying and Selling

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total transaction of $60,676.22. Following the completion of the transaction, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 2,664 shares of company stock worth $115,210. Company insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Moderna during the 4th quarter worth about $163,833,000. Voloridge Investment Management LLC raised its holdings in Moderna by 335.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock worth $107,727,000 after purchasing an additional 1,996,003 shares in the last quarter. State Street Corp lifted its position in shares of Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock worth $1,125,899,000 after buying an additional 1,823,276 shares during the last quarter. FMR LLC boosted its holdings in shares of Moderna by 7.4% in the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after buying an additional 1,282,469 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Moderna by 170.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock valued at $73,447,000 after buying an additional 1,113,455 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other 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.