TD Cowen Lowers Moderna (NASDAQ:MRNA) Price Target to $60.00

Moderna (NASDAQ:MRNA) had its price target cut by TD Cowen from $70.00 to $60.00 in a report released on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada dropped their target price on Moderna from $90.00 to $75.00 and set a sector perform rating on the stock in a research report on Friday. Barclays cut their price objective on shares of Moderna from $168.00 to $155.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Piper Sandler cut their price target on Moderna from $157.00 to $115.00 and set an overweight rating on the stock in a report on Friday. Oppenheimer cut Moderna from an outperform rating to a market perform rating in a research report on Friday. Finally, Needham & Company LLC reissued a hold rating on shares of Moderna in a research note on Friday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Moderna has a consensus rating of Hold and an average target price of $103.93.

Moderna Trading Up 1.3 %

Shares of MRNA opened at $69.17 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.92 and a current ratio of 4.09. Moderna has a one year low of $62.55 and a one year high of $170.47. The stock has a 50-day moving average price of $94.12 and a 200 day moving average price of $111.72. The company has a market capitalization of $26.51 billion, a P/E ratio of -4.41 and a beta of 1.67.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.47) by $0.14. The firm had revenue of $241.00 million for the quarter, compared to analysts’ expectations of $128.41 million. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. Moderna’s revenue for the quarter was down 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($3.62) earnings per share. Sell-side analysts forecast that Moderna will post -9.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Moderna news, President Stephen Hoge sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $121.12, for a total value of $1,816,800.00. Following the completion of the sale, the president now directly owns 1,442,089 shares of the company’s stock, valued at $174,665,819.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Stephen Hoge sold 15,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $121.12, for a total value of $1,816,800.00. Following the completion of the sale, the president now directly owns 1,442,089 shares in the company, valued at $174,665,819.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James M. Mock sold 689 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $118.24, for a total value of $81,467.36. Following the transaction, the chief financial officer now directly owns 7,269 shares in the company, valued at approximately $859,486.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,158 shares of company stock worth $11,167,312. Insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Several hedge funds have recently added to or reduced their stakes in MRNA. Vanguard Group Inc. grew its stake in shares of Moderna by 15.1% in the first quarter. Vanguard Group Inc. now owns 39,036,872 shares of the company’s stock worth $4,159,769,000 after acquiring an additional 5,129,800 shares during the last quarter. Wellington Management Group LLP increased its stake in Moderna by 28.8% during the fourth quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock valued at $718,584,000 after acquiring an additional 1,614,460 shares during the period. Capital World Investors lifted its position in shares of Moderna by 0.5% in the 1st quarter. Capital World Investors now owns 3,648,117 shares of the company’s stock worth $388,743,000 after acquiring an additional 18,728 shares during the period. Norges Bank acquired a new stake in shares of Moderna during the 4th quarter worth approximately $347,565,000. Finally, Mawer Investment Management Ltd. increased its position in shares of Moderna by 6.7% during the first quarter. Mawer Investment Management Ltd. now owns 1,916,570 shares of the company’s stock valued at $204,230,000 after purchasing an additional 120,621 shares during the period. Institutional investors own 75.33% of the company’s stock.

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.