Bank of America Issues Pessimistic Forecast for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA) had its price target cut by Bank of America from $41.00 to $34.00 in a report released on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

Other research analysts also recently issued reports about the company. Hsbc Global Res raised Moderna from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Piper Sandler reaffirmed an “overweight” rating and set a $69.00 price target (down from $115.00) on shares of Moderna in a research note on Monday, November 18th. The Goldman Sachs Group downgraded Moderna from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $99.00 to $51.00 in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research note on Friday, November 8th. Finally, Leerink Partners dropped their price target on Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $66.89.

Moderna Stock Down 2.9 %

Shares of NASDAQ:MRNA opened at $30.93 on Tuesday. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of -5.31 and a beta of 1.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. The business’s 50-day moving average is $39.77 and its 200-day moving average is $56.76. Moderna has a 1 year low of $30.70 and a 1 year high of $170.47.

Insider Activity

In other news, insider Shannon Thyme Klinger sold 1,418 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the transaction, the insider now directly owns 19,717 shares of the company’s stock, valued at $843,690.43. This represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 2,664 shares of company stock valued at $115,210 over the last three months. Corporate insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors and hedge funds have recently bought and sold shares of the company. Intrinsic Value Partners LLC grew its holdings in Moderna by 91.1% during the third quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock valued at $3,435,000 after purchasing an additional 24,505 shares during the period. Banco Santander S.A. bought a new position in Moderna during the third quarter valued at $3,550,000. John G Ullman & Associates Inc. grew its holdings in Moderna by 341.3% during the third quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock valued at $3,318,000 after purchasing an additional 38,400 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Moderna by 11.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock valued at $107,885,000 after purchasing an additional 167,596 shares during the period. Finally, abrdn plc grew its holdings in Moderna by 28.1% during the fourth quarter. abrdn plc now owns 315,912 shares of the company’s stock valued at $12,842,000 after purchasing an additional 69,360 shares during the period. 75.33% of the stock is owned by 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.