Moderna (NASDAQ:MRNA) Sets New 52-Week Low – Here’s What Happened

Moderna, Inc. (NASDAQ:MRNA) 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 traded. The stock had previously closed at $25.73.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRNA. Bank of America decreased their target price on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group cut shares of Moderna from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $99.00 to $51.00 in a research note on Wednesday, January 29th. UBS Group reduced their target price on Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Argus downgraded Moderna from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley lowered their target price on Moderna from $70.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.00.

Moderna Price Performance

The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -2.73 and a beta of 2.23. The company’s fifty day moving average price is $33.55 and its 200-day moving average price is $42.61.

Institutional Investors Weigh In On Moderna

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB lifted its position in Moderna by 295.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after acquiring an additional 587 shares during the period. Venturi Wealth Management LLC lifted its position in Moderna by 286.2% during the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after purchasing an additional 664 shares during the period. Compass Planning Associates Inc purchased a new position in shares of Moderna during the 4th quarter valued at about $37,000. Crowley Wealth Management Inc. purchased a new stake in shares of Moderna in the fourth quarter worth about $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 worth $42,000 after acquiring an additional 343 shares during the period. 75.33% of the stock is currently owned by institutional investors and hedge funds.

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.