Piper Sandler Reaffirms “Overweight” Rating for Moderna (NASDAQ:MRNA)

Piper Sandler reiterated their overweight rating on shares of Moderna (NASDAQ:MRNA) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $69.00 price target on the stock, down from their prior price target of $115.00.

Several other equities analysts also recently issued reports on MRNA. Bank of America reduced their price objective on Moderna from $130.00 to $110.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. The Goldman Sachs Group reduced their price objective on Moderna from $178.00 to $139.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Leerink Partners reduced their price objective on Moderna from $60.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on Moderna from $70.00 to $59.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded Moderna from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $80.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Moderna Stock Up 7.2 %

NASDAQ:MRNA opened at $39.51 on Monday. The stock has a 50 day moving average of $58.56 and a 200-day moving average of $96.68. Moderna has a 52 week low of $35.80 and a 52 week high of $170.47. The company has a quick ratio of 4.20, a current ratio of 4.39 and a debt-to-equity ratio of 0.05.

Moderna (NASDAQ:MRNA) last posted its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($1.89) by $1.92. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.39) earnings per share. Sell-side analysts expect that Moderna will post -9.43 EPS for the current year.

Insider Buying and Selling at Moderna

In other Moderna news, CFO James M. Mock sold 715 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $60.12, for a total value of $42,985.80. Following the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 2,930 shares of company stock valued at $217,170. Corporate insiders own 15.20% of the company’s stock.

Institutional Trading of Moderna

Several large investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its stake in Moderna by 1.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock valued at $660,000 after purchasing an additional 93 shares during the period. CVA Family Office LLC raised its stake in Moderna by 21.6% during the 2nd quarter. CVA Family Office LLC now owns 541 shares of the company’s stock valued at $64,000 after purchasing an additional 96 shares during the period. Claro Advisors LLC raised its stake in Moderna by 2.0% during the 2nd quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock valued at $659,000 after purchasing an additional 108 shares during the period. McAdam LLC raised its stake in Moderna by 1.1% during the 2nd quarter. McAdam LLC now owns 11,075 shares of the company’s stock valued at $1,315,000 after purchasing an additional 117 shares during the period. Finally, 180 Wealth Advisors LLC raised its stake in Moderna by 1.1% during the 2nd quarter. 180 Wealth Advisors LLC now owns 14,868 shares of the company’s stock valued at $1,826,000 after purchasing an additional 160 shares during the period. 75.33% of the stock is 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.