Moderna (NASDAQ:MRNA) Shares Gap Up – What’s Next?

Moderna, Inc. (NASDAQ:MRNA) gapped up before the market opened on Wednesday . The stock had previously closed at $30.37, but opened at $32.50. Moderna shares last traded at $33.08, with a volume of 4,892,518 shares.

Analyst Ratings Changes

MRNA has been the subject of several research reports. Evercore ISI set a $50.00 price target on shares of Moderna in a research report on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Morgan Stanley lowered their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price objective on shares of Moderna in a report on Tuesday, February 18th. Finally, Bank of America lowered their target price on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.63.

Moderna Price Performance

The stock has a market cap of $12.38 billion, a P/E ratio of -3.45 and a beta of 1.86. The firm’s fifty day moving average price is $36.92 and its two-hundred day moving average price is $49.88.

Institutional Trading of Moderna

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Moderna in the fourth quarter valued at approximately $163,833,000. Voloridge Investment Management LLC increased its holdings in shares of Moderna by 335.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,590,831 shares of the company’s stock worth $107,727,000 after buying an additional 1,996,003 shares during the last quarter. State Street Corp raised its position in shares of Moderna by 12.1% during the 3rd quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after buying an additional 1,823,276 shares in the last quarter. FMR LLC raised its position in shares of Moderna by 7.4% during the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after buying an additional 1,282,469 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Moderna by 170.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock worth $73,447,000 after acquiring an additional 1,113,455 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.