Canaccord Genuity Group Increases Moderna (NASDAQ:MRNA) Price Target to $106.00

Moderna (NASDAQ:MRNA) had its target price upped by equities researchers at Canaccord Genuity Group from $91.00 to $106.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective points to a potential downside of 15.20% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Moderna in a report on Thursday. Oppenheimer boosted their target price on shares of Moderna from $142.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday. William Blair reissued a “market perform” rating on shares of Moderna in a research report on Monday, April 1st. Jefferies Financial Group restated a “buy” rating and set a $125.00 price target on shares of Moderna in a report on Tuesday, April 9th. Finally, Royal Bank of Canada increased their price objective on Moderna from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Moderna has a consensus rating of “Hold” and an average price target of $129.55.

Moderna Price Performance

Shares of NASDAQ:MRNA traded down $0.59 on Friday, reaching $125.00. 4,512,362 shares of the company traded hands, compared to its average volume of 4,144,759. The stock has a market capitalization of $47.86 billion, a PE ratio of -10.07 and a beta of 1.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.42 and a quick ratio of 3.36. The company’s 50 day moving average is $105.05 and its 200-day moving average is $94.37. Moderna has a fifty-two week low of $62.55 and a fifty-two week high of $142.79.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, May 2nd. The company reported ($3.07) EPS for the quarter, beating the consensus estimate of ($3.59) by $0.52. The business had revenue of $167.00 million during the quarter, compared to the consensus estimate of $93.26 million. Moderna had a negative return on equity of 10.23% and a negative net margin of 68.84%. Moderna’s revenue was down 91.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, analysts anticipate that Moderna will post -7.51 earnings per share for the current fiscal year.

Insider Transactions at Moderna

In related news, insider Shannon Thyme Klinger sold 544 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $99.05, for a total value of $53,883.20. Following the transaction, the insider now directly owns 9,267 shares in the company, valued at approximately $917,896.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Shannon Thyme Klinger sold 544 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $99.05, for a total transaction of $53,883.20. Following the completion of the sale, the insider now owns 9,267 shares in the company, valued at approximately $917,896.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $108.54, for a total value of $1,628,100.00. Following the completion of the transaction, the director now directly owns 2,131,931 shares in the company, valued at $231,399,790.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,954 shares of company stock worth $14,822,576. 15.70% of the stock is owned by insiders.

Institutional Trading of Moderna

A number of hedge funds have recently bought and sold shares of MRNA. Allworth Financial LP raised its position in shares of Moderna by 6.5% during the fourth quarter. Allworth Financial LP now owns 1,660 shares of the company’s stock valued at $165,000 after buying an additional 101 shares during the last quarter. TIAA Trust National Association lifted its position in shares of Moderna by 2.3% in the 4th quarter. TIAA Trust National Association now owns 4,491 shares of the company’s stock worth $447,000 after acquiring an additional 102 shares during the period. Principle Wealth Partners LLC lifted its position in shares of Moderna by 4.3% in the 1st quarter. Principle Wealth Partners LLC now owns 2,497 shares of the company’s stock worth $266,000 after acquiring an additional 102 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Moderna by 17.8% during the 4th quarter. Sound Income Strategies LLC now owns 762 shares of the company’s stock worth $76,000 after purchasing an additional 115 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Moderna by 32.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock valued at $47,000 after purchasing an additional 116 shares during the period. 75.33% of the stock is owned by institutional investors.

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.