Moderna (NASDAQ:MRNA) PT Lowered to $70.00

Moderna (NASDAQ:MRNAGet Rating) had its target price cut by equities research analysts at SVB Leerink from $80.00 to $70.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm presently has an “underperform” rating on the stock. SVB Leerink’s price objective suggests a potential downside of 51.53% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Barclays decreased their price objective on shares of Moderna from $404.00 to $210.00 in a report on Friday, February 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Moderna from $175.00 to $155.00 and set a “hold” rating for the company in a research report on Monday, March 7th. Piper Sandler lowered their target price on Moderna from $348.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. TheStreet lowered Moderna from a “b-” rating to a “c+” rating in a research note on Thursday, February 24th. Finally, Jefferies Financial Group dropped their target price on shares of Moderna from $200.00 to $170.00 in a research report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Moderna currently has a consensus rating of “Hold” and an average target price of $235.85.

NASDAQ:MRNA traded up $4.41 on Tuesday, reaching $144.41. The stock had a trading volume of 38,698 shares, compared to its average volume of 5,980,588. The company has a quick ratio of 1.56, a current ratio of 1.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $57.44 billion, a P/E ratio of 4.24, a price-to-earnings-growth ratio of 0.77 and a beta of 1.70. Moderna has a 1-year low of $119.01 and a 1-year high of $497.49. The stock has a fifty day moving average price of $148.10 and a 200-day moving average price of $184.70.

Moderna (NASDAQ:MRNAGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported $8.58 EPS for the quarter, topping the consensus estimate of $5.18 by $3.40. Moderna had a return on equity of 121.86% and a net margin of 64.77%. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the business earned $2.84 EPS. Moderna’s revenue was up 213.2% compared to the same quarter last year. Sell-side analysts predict that Moderna will post 27.21 earnings per share for the current fiscal year.

In related news, CEO Stephane Bancel sold 9,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $161.63, for a total transaction of $1,454,670.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Juan Andres sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $184.66, for a total value of $369,320.00. The disclosure for this sale can be found here. Insiders sold 345,305 shares of company stock worth $50,482,597 in the last ninety days. 17.30% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Stokes Family Office LLC lifted its stake in shares of Moderna by 8.2% in the 3rd quarter. Stokes Family Office LLC now owns 1,162 shares of the company’s stock valued at $447,000 after acquiring an additional 88 shares during the last quarter. Horizon Investments LLC bought a new position in Moderna during the 3rd quarter worth $2,137,000. LPL Financial LLC raised its position in Moderna by 19.3% during the 3rd quarter. LPL Financial LLC now owns 150,061 shares of the company’s stock worth $57,753,000 after purchasing an additional 24,239 shares during the last quarter. Victory Capital Management Inc. raised its position in Moderna by 9.3% during the 4th quarter. Victory Capital Management Inc. now owns 256,403 shares of the company’s stock worth $65,121,000 after purchasing an additional 21,738 shares during the last quarter. Finally, American National Bank raised its position in Moderna by 519.0% during the 4th quarter. American National Bank now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 109 shares during the last quarter. 61.20% of the stock is currently owned by hedge funds and other institutional investors.

About Moderna (Get Rating)

Moderna, Inc, a biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases in the United States and internationally. The company has 44 development programs, which includes 26 in clinical trials across seven modalities comprising prophylactic vaccines, systemic secreted and cell surface therapeutics, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic intracellular therapeutics, and inhaled pulmonary therapeutics.

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