JPMorgan Chase & Co. Has Lowered Expectations for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA) had its target price cut by JPMorgan Chase & Co. from $59.00 to $45.00 in a report released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other research firms have also recently weighed in on MRNA. Jefferies Financial Group reduced their price target on shares of Moderna from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their price target on shares of Moderna from $178.00 to $139.00 and set a “buy” rating for the company in a report on Monday, September 16th. Hsbc Global Res upgraded shares of Moderna from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $75.00 price target on shares of Moderna in a report on Thursday, September 19th. Finally, Bank of America reduced their price target on shares of Moderna from $130.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.33.

Moderna Stock Down 0.8 %

Shares of NASDAQ MRNA opened at $43.06 on Tuesday. The stock has a market cap of $16.57 billion, a P/E ratio of -7.40 and a beta of 1.69. The firm has a 50 day moving average price of $52.38 and a 200 day moving average price of $91.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. Moderna has a 52-week low of $35.80 and a 52-week high of $170.47.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.89) by $1.92. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.39) earnings per share. Analysts expect that Moderna will post -9.44 EPS for the current year.

Insiders Place Their Bets

In other Moderna news, CFO James M. Mock sold 715 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $60.12, for a total transaction of $42,985.80. Following the sale, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at approximately $571,440.60. This represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 1,147 shares of company stock valued at $76,245. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Moderna

Several large investors have recently modified their holdings of MRNA. Ashton Thomas Private Wealth LLC bought a new position in shares of Moderna in the second quarter valued at about $26,000. Family Firm Inc. bought a new position in shares of Moderna in the second quarter valued at about $33,000. Bank & Trust Co bought a new position in shares of Moderna in the second quarter valued at about $36,000. Hanseatic Management Services Inc. bought a new position in shares of Moderna in the second quarter valued at about $48,000. Finally, Plato Investment Management Ltd raised its position in shares of Moderna by 230.4% in the second quarter. Plato Investment Management Ltd now owns 413 shares of the company’s stock valued at $49,000 after purchasing an additional 288 shares during the period. 75.33% of the stock is owned by 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.