Ipswich Investment Management Co. Inc. Has $320,000 Stake in Moderna, Inc. (NASDAQ:MRNA)

Ipswich Investment Management Co. Inc. lowered its holdings in Moderna, Inc. (NASDAQ:MRNA) by 20.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,795 shares of the company’s stock after selling 1,235 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Moderna were worth $320,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRNA. Ashton Thomas Private Wealth LLC acquired a new position in shares of Moderna during the second quarter worth approximately $26,000. Cedar Wealth Management LLC increased its stake in shares of Moderna by 45.0% in the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock valued at $31,000 after buying an additional 90 shares during the period. Family Firm Inc. acquired a new position in shares of Moderna during the second quarter valued at $33,000. Bank & Trust Co bought a new position in Moderna in the second quarter valued at about $36,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Moderna in the second quarter worth about $48,000. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Moderna

In other news, CFO James M. Mock sold 1,321 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. This represents a 13.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 2,930 shares of company stock valued at $217,170 in the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on MRNA shares. Sanford C. Bernstein initiated coverage on shares of Moderna in a research report on Thursday, October 17th. They set a “market perform” rating and a $55.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Moderna in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of Moderna from $70.00 to $59.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Wolfe Research started coverage on Moderna in a research note on Friday. They issued an “underperform” rating and a $40.00 price target on the stock. Finally, Oppenheimer cut Moderna from an “outperform” rating to a “market perform” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.22.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $36.85 on Friday. The company has a fifty day moving average price of $59.28 and a 200 day moving average price of $97.40. The firm has a market cap of $14.18 billion, a PE ratio of -6.33 and a beta of 1.69. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. Moderna, Inc. has a 1-year low of $35.80 and a 1-year high of $170.47.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($1.89) by $1.92. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned ($1.39) earnings per share. Moderna’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict that Moderna, Inc. will post -9.43 earnings per share for the current fiscal year.

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.