Resona Asset Management Co. Ltd. Acquires New Stake in Moderna, Inc. (NASDAQ:MRNA)

Resona Asset Management Co. Ltd. bought a new position in Moderna, Inc. (NASDAQ:MRNA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 94,753 shares of the company’s stock, valued at approximately $3,920,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB lifted its holdings in shares of Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after buying an additional 587 shares during the period. Venturi Wealth Management LLC lifted its holdings in Moderna by 286.2% in the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after acquiring an additional 664 shares during the last quarter. Compass Planning Associates Inc bought a new position in shares of Moderna during the 4th quarter valued at about $37,000. Crowley Wealth Management Inc. acquired a new position in shares of Moderna in the 4th quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Moderna by 58.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock worth $44,000 after purchasing an additional 389 shares in the last quarter. 75.33% of the stock is owned by institutional investors.

Moderna Price Performance

Shares of Moderna stock opened at $24.64 on Wednesday. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of -2.66 and a beta of 2.23. The stock has a 50-day simple moving average of $32.51 and a 200-day simple moving average of $41.91. Moderna, Inc. has a 52-week low of $23.15 and a 52-week high of $170.47.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price target on shares of Moderna in a research report on Tuesday, February 18th. The Goldman Sachs Group cut Moderna from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $99.00 to $51.00 in a report on Wednesday, January 29th. Berenberg Bank upped their target price on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Citigroup started coverage on Moderna in a research note on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price target on the stock. Finally, Bank of America cut their price objective on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.00.

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.