Moderna (NASDAQ:MRNA) Sets New 12-Month Low – Here’s What Happened

Moderna, Inc. (NASDAQ:MRNA) reached a new 52-week low during trading on Tuesday . The company traded as low as $26.80 and last traded at $28.35, with a volume of 20439330 shares changing hands. The stock had previously closed at $31.12.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MRNA shares. Citigroup started coverage on shares of Moderna in a research report on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price target for the company. Evercore ISI set a $50.00 target price on Moderna in a report on Friday, February 14th. UBS Group decreased their target price on Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Leerink Partners cut their price target on Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Moderna from $40.00 to $33.00 and set an “underweight” rating for the company in a report on Friday, March 21st. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.00.

Moderna Stock Performance

The company has a market cap of $10.72 billion, a price-to-earnings ratio of -2.99 and a beta of 1.86. The company has a 50-day simple moving average of $34.21 and a 200-day simple moving average of $43.44.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MRNA. Cerity Partners LLC increased its holdings in shares of Moderna by 7.0% in the 3rd quarter. Cerity Partners LLC now owns 13,769 shares of the company’s stock valued at $920,000 after purchasing an additional 900 shares in the last quarter. Quantbot Technologies LP acquired a new position in Moderna during the third quarter worth about $150,000. Townsquare Capital LLC increased its holdings in Moderna by 42.7% in the third quarter. Townsquare Capital LLC now owns 5,288 shares of the company’s stock valued at $353,000 after buying an additional 1,583 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Moderna by 18.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 16,380 shares of the company’s stock valued at $1,095,000 after acquiring an additional 2,500 shares during the period. Finally, Benjamin Edwards Inc. boosted its stake in shares of Moderna by 14,009.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,374 shares of the company’s stock worth $292,000 after acquiring an additional 4,343 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Moderna Company Profile

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.