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

Moderna, Inc. (NASDAQ:MRNA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $35.53, but opened at $33.88. Moderna shares last traded at $33.38, with a volume of 3,066,453 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 15th. Bank of America lowered their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. HSBC upgraded Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, November 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a report on Friday, November 8th. Finally, Berenberg Bank upped their price target on shares of Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.63.

Moderna Stock Down 2.8 %

The firm has a market capitalization of $13.29 billion, a PE ratio of -3.71 and a beta of 1.59. The business’s 50-day moving average price is $38.04 and its 200-day moving average price is $52.46.

Insiders Place Their Bets

In related news, insider Shannon Thyme Klinger sold 1,418 shares of Moderna stock in a transaction on Friday, November 29th. The stock was sold at an average price of $42.79, for a total transaction of $60,676.22. Following the completion of the sale, the insider now owns 19,717 shares of the company’s stock, valued at approximately $843,690.43. This trade represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,664 shares of company stock worth $115,210 in the last quarter. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Moderna

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Moderna in the fourth quarter worth approximately $163,833,000. Voloridge Investment Management LLC grew its position in Moderna by 335.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock worth $107,727,000 after acquiring an additional 1,996,003 shares in the last quarter. State Street Corp increased its stake 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 purchasing an additional 1,823,276 shares during the last quarter. FMR LLC raised its holdings in shares of Moderna by 7.4% during the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after purchasing an additional 1,282,469 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake 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 purchasing 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.