Moderna’s (MRNA) “Underperform” Rating Reaffirmed at Bank of America

Bank of America reiterated their underperform rating on shares of Moderna (NASDAQ:MRNA) in a research note published on Tuesday morning, Marketbeat reports. Bank of America currently has a $41.00 price objective on the stock.

MRNA has been the subject of a number of other research reports. UBS Group reduced their price objective on Moderna from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Leerink Partners reduced their target price on shares of Moderna from $60.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday, September 17th. Barclays lowered their price target on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, HSBC raised Moderna from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, November 18th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.50.

Moderna Stock Performance

Shares of MRNA stock opened at $41.51 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. The firm has a 50-day moving average of $49.39 and a 200-day moving average of $85.62. Moderna has a one year low of $35.80 and a one year high of $170.47. The company has a market cap of $15.97 billion, a P/E ratio of -7.13 and a beta of 1.58.

Moderna (NASDAQ:MRNA) last posted its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($1.89) by $1.92. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.39) EPS. Equities research analysts forecast that Moderna will post -9.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Moderna news, CFO James M. Mock sold 715 shares of the business’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 completion of the transaction, the chief financial officer now owns 9,505 shares of the company’s stock, valued at $571,440.60. The trade was a 7.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shannon Thyme Klinger sold 1,418 shares of the firm’s stock in a transaction 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 sale, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. This trade represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,379 shares of company stock worth $158,195. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in Moderna during the second quarter valued at approximately $26,000. Family Firm Inc. purchased a new stake in shares of Moderna in the 2nd quarter valued at $33,000. Hanseatic Management Services Inc. purchased a new position in Moderna in the 2nd quarter worth $48,000. Plato Investment Management Ltd raised its position in Moderna by 230.4% in the 2nd quarter. Plato Investment Management Ltd now owns 413 shares of the company’s stock worth $49,000 after purchasing an additional 288 shares during the period. Finally, Blue Trust Inc. lifted its stake in Moderna by 365.6% in the third quarter. Blue Trust Inc. now owns 731 shares of the company’s stock worth $49,000 after purchasing an additional 574 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.

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.