Moderna (NASDAQ:MRNA) Shares Gap Down – What’s Next?

Moderna, Inc. (NASDAQ:MRNA) gapped down prior to trading on Monday . The stock had previously closed at $31.12, but opened at $28.89. Moderna shares last traded at $27.45, with a volume of 4,996,103 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group lowered Moderna from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $99.00 to $51.00 in a report on Wednesday, January 29th. Barclays cut shares of Moderna from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $111.00 to $45.00 in a research note on Tuesday, February 18th. Bank of America reduced their price objective on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. UBS Group dropped their target price on shares of Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Evercore ISI set a $50.00 price target on shares of Moderna in a research report on Friday, February 14th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Moderna presently has an average rating of “Hold” and a consensus price target of $59.00.

Moderna Trading Down 8.4 %

The company’s fifty day moving average is $34.72 and its two-hundred day moving average is $44.13. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of -3.05 and a beta of 1.86.

Institutional Investors Weigh In On Moderna

Institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC increased its stake in Moderna by 7.0% during the third quarter. Cerity Partners LLC now owns 13,769 shares of the company’s stock worth $920,000 after purchasing an additional 900 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Moderna in the third quarter valued at approximately $419,000. Quantbot Technologies LP purchased a new stake in Moderna during the 3rd quarter worth approximately $150,000. Townsquare Capital LLC lifted its holdings in Moderna by 42.7% during the 3rd quarter. Townsquare Capital LLC now owns 5,288 shares of the company’s stock worth $353,000 after buying an additional 1,583 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Moderna by 17.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,774 shares of the company’s stock valued at $10,544,000 after buying an additional 23,631 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.

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.