JPMorgan Chase & Co. Cuts Moderna (NASDAQ:MRNA) Price Target to $33.00

Moderna (NASDAQ:MRNA) had its target price lowered by JPMorgan Chase & Co. from $40.00 to $33.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts also recently issued reports on MRNA. Leerink Partners lowered their price target on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Morgan Stanley lowered their price target on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Bank of America lowered their target price on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Evercore ISI set a $50.00 target price on shares of Moderna in a research report on Friday, February 14th. Finally, Barclays lowered shares of Moderna from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $111.00 to $45.00 in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Moderna currently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Trading Up 0.6 %

Shares of Moderna stock opened at $32.66 on Friday. Moderna has a 12-month low of $29.25 and a 12-month high of $170.47. The company has a market cap of $12.60 billion, a price-to-earnings ratio of -3.52 and a beta of 1.86. The company’s 50-day moving average price is $34.91 and its 200-day moving average price is $46.05.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Banco Santander S.A. purchased a new position in shares of Moderna in the third quarter worth $3,550,000. abrdn plc increased its stake in shares of Moderna by 28.1% in the fourth quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after buying an additional 69,360 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Moderna by 30.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 101,159 shares of the company’s stock worth $6,760,000 after buying an additional 23,881 shares during the period. Spire Wealth Management increased its stake in shares of Moderna by 2,150.4% in the fourth quarter. Spire Wealth Management now owns 23,224 shares of the company’s stock worth $966,000 after buying an additional 22,192 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Moderna by 30.5% in the third quarter. Citigroup Inc. now owns 591,910 shares of the company’s stock worth $39,557,000 after buying an additional 138,378 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.