Moderna (NASDAQ:MRNA) Given New $59.00 Price Target at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its price target cut by JPMorgan Chase & Co. from $70.00 to $59.00 in a research report released on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

Several other research firms have also recently weighed in on MRNA. Piper Sandler lowered their price objective on Moderna from $157.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. The Goldman Sachs Group lowered their price target on shares of Moderna from $178.00 to $139.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. TD Cowen cut their price objective on shares of Moderna from $70.00 to $60.00 and set a “hold” rating for the company in a report on Friday, September 13th. Oppenheimer cut shares of Moderna from an “outperform” rating to a “market perform” rating in a report on Friday, September 13th. Finally, Sanford C. Bernstein began coverage on Moderna in a research note on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Moderna has an average rating of “Hold” and a consensus target price of $94.00.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $53.54 on Monday. The firm has a market cap of $20.58 billion, a P/E ratio of -3.48 and a beta of 1.69. The business’s 50 day moving average is $64.05 and its 200-day moving average is $100.65. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.05. Moderna has a 1-year low of $52.26 and a 1-year high of $170.47.

Insider Buying and Selling at Moderna

In other news, CFO James M. Mock sold 1,321 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the completion of the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at approximately $682,754. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Moderna news, CFO James M. Mock sold 715 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the sale, the chief financial officer now owns 9,505 shares in the company, valued at $571,440.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at $682,754. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,184 shares of company stock worth $238,531 over the last 90 days. Insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Moderna

Hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Moderna during the third quarter valued at about $377,000. Entropy Technologies LP acquired a new stake in Moderna during the 3rd quarter worth approximately $778,000. Apollon Wealth Management LLC boosted its position in Moderna by 23.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,064 shares of the company’s stock worth $338,000 after buying an additional 962 shares during the period. Intrinsic Value Partners LLC grew its holdings in Moderna by 91.1% during the 3rd quarter. Intrinsic Value Partners LLC now owns 51,392 shares of the company’s stock worth $3,435,000 after acquiring an additional 24,505 shares during the last quarter. Finally, Privium Fund Management B.V. increased its position in Moderna by 74.0% in the 3rd quarter. Privium Fund Management B.V. now owns 40,482 shares of the company’s stock valued at $2,705,000 after acquiring an additional 17,221 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.