Moderna (NASDAQ:MRNA) Shares Up 9.4% After Better-Than-Expected Earnings

Moderna, Inc. (NASDAQ:MRNA) shares traded up 9.4% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $122.81 and last traded at $121.99. 5,955,355 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 4,065,655 shares. The stock had previously closed at $111.46.

The company reported ($3.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.59) by $0.52. The business had revenue of $167.00 million for the quarter, compared to the consensus estimate of $93.26 million. Moderna had a negative return on equity of 20.10% and a negative net margin of 115.82%. The business’s revenue was down 91.0% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS.

Analysts Set New Price Targets

A number of analysts have recently commented on MRNA shares. William Blair restated a “market perform” rating on shares of Moderna in a research note on Monday, April 1st. Canaccord Genuity Group lifted their target price on shares of Moderna from $91.00 to $106.00 and gave the company a “hold” rating in a report on Friday. Oppenheimer upped their price target on Moderna from $142.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a report on Thursday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $125.00 target price on shares of Moderna in a research report on Tuesday, April 9th. 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’s stock. According to data from MarketBeat.com, Moderna currently has a consensus rating of “Hold” and a consensus price target of $129.55.

Insider Activity

In related news, President Stephen Hoge sold 2,388 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $225,833.16. Following the transaction, the president now owns 1,515,898 shares of the company’s stock, valued at approximately $143,358,473.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Shannon Thyme Klinger sold 670 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total transaction of $63,361.90. Following the completion of the sale, the insider now owns 8,557 shares in the company, valued at approximately $809,235.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Hoge sold 2,388 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total transaction of $225,833.16. Following the completion of the transaction, the president now directly owns 1,515,898 shares in the company, valued at $143,358,473.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,954 shares of company stock valued at $14,822,576. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in Moderna by 6,528.9% during the 4th quarter. International Assets Investment Management LLC now owns 387,656 shares of the company’s stock worth $38,552,000 after purchasing an additional 381,808 shares during the period. abrdn plc increased its position in Moderna by 477.5% in the 4th quarter. abrdn plc now owns 483,574 shares of the company’s stock valued at $48,091,000 after acquiring an additional 399,843 shares during the period. Van ECK Associates Corp raised its stake in Moderna by 19.2% during the 4th quarter. Van ECK Associates Corp now owns 270,774 shares of the company’s stock valued at $26,929,000 after acquiring an additional 43,646 shares during the last quarter. Invesco Ltd. lifted its position in Moderna by 19.8% during the 3rd quarter. Invesco Ltd. now owns 3,126,028 shares of the company’s stock worth $322,887,000 after acquiring an additional 517,683 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its holdings in shares of Moderna by 10.5% in the third quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 32,188 shares of the company’s stock valued at $3,252,000 after purchasing an additional 3,052 shares during the period. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Price Performance

The company has a current ratio of 4.03, a quick ratio of 3.36 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $105.05 and a two-hundred day moving average of $94.37.

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.