Moderna (NASDAQ:MRNA) Hits New 12-Month Low – Here’s What Happened

Moderna, Inc. (NASDAQ:MRNA)’s share price reached a new 52-week low on Monday . The company traded as low as $23.76 and last traded at $24.08, with a volume of 16041074 shares. The stock had previously closed at $25.73.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MRNA shares. JPMorgan Chase & Co. decreased their price target on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating on the stock in a report on Friday, March 21st. Barclays cut Moderna from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $111.00 to $45.00 in a report on Tuesday, February 18th. Berenberg Bank upped their price objective on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 price objective on shares of Moderna in a research report on Tuesday, February 18th. Finally, Bank of America reduced their price objective on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Moderna currently has an average rating of “Hold” and a consensus target price of $59.00.

Moderna Price Performance

The stock has a market cap of $9.79 billion, a PE ratio of -2.73 and a beta of 2.23. The company has a 50 day moving average price of $33.55 and a two-hundred day moving average price of $42.61.

Hedge Funds Weigh In On Moderna

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB boosted its stake in shares of Moderna by 295.0% in 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 last quarter. Compass Planning Associates Inc bought a new stake in shares of Moderna during the 4th quarter valued at $37,000. Venturi Wealth Management LLC increased 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 worth $37,000 after purchasing an additional 664 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in Moderna during the fourth quarter valued at $41,000. Finally, Itau Unibanco Holding S.A. grew its holdings in Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock valued at $42,000 after purchasing an additional 343 shares during the period. Institutional investors own 75.33% of the company’s stock.

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.