Moderna (NASDAQ:MRNA) Given New $78.00 Price Target at UBS Group

Moderna (NASDAQ:MRNA) had its target price cut by UBS Group from $96.00 to $78.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley reduced their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Evercore ISI decreased their target price on Moderna from $60.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, January 27th. Bank of America cut their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, February 11th. Berenberg Bank lifted their price objective on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Hsbc Global Res upgraded shares of Moderna from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.63.

Moderna Price Performance

NASDAQ MRNA opened at $35.90 on Wednesday. The company has a market cap of $13.82 billion, a P/E ratio of -3.87 and a beta of 1.59. Moderna has a 1-year low of $29.25 and a 1-year high of $170.47. The stock has a 50-day moving average of $38.35 and a two-hundred day moving average of $53.34.

Insider Activity

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

Institutional Trading of Moderna

A number of large investors have recently bought and sold shares of the business. Intrinsic Value Partners LLC raised its holdings in shares of Moderna by 91.1% in the third quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock valued at $3,435,000 after buying an additional 24,505 shares during the last quarter. Banco Santander S.A. acquired a new position in Moderna in the 3rd quarter valued at about $3,550,000. John G Ullman & Associates Inc. lifted its position in Moderna by 341.3% during the 3rd quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock worth $3,318,000 after acquiring an additional 38,400 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Moderna by 11.6% in the 3rd 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 last quarter. Finally, abrdn plc raised its stake in shares of Moderna by 28.1% during the fourth quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after purchasing an additional 69,360 shares during the last quarter. Institutional investors and hedge funds 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.