Moderna’s (MRNA) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Moderna (NASDAQ:MRNA) in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $40.00 target price on the stock.

A number of other research analysts also recently commented on MRNA. Morgan Stanley dropped their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Evercore ISI lowered their price objective on shares of Moderna from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Leerink Partners lowered their price objective on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group downgraded shares of Moderna from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Finally, HSBC raised shares of Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, November 18th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Moderna has an average rating of “Hold” and a consensus price target of $60.63.

Moderna Price Performance

NASDAQ MRNA opened at $33.73 on Tuesday. The firm’s fifty day moving average price is $38.17 and its 200 day moving average price is $53.20. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of -3.63 and a beta of 1.59. Moderna has a 12 month low of $29.25 and a 12 month high of $170.47.

Insider Activity at Moderna

In related news, insider Shannon Thyme Klinger sold 1,418 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the sale, the insider now owns 19,717 shares in the company, valued at $843,690.43. This trade represents a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 2,664 shares of company stock worth $115,210 over the last 90 days. Company insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

Several hedge funds and other institutional investors have recently made changes to their positions in MRNA. Intrinsic Value Partners LLC raised its position in Moderna by 91.1% during the third 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. Banco Santander S.A. acquired a new position in Moderna during the third quarter worth about $3,550,000. John G Ullman & Associates Inc. raised its position in Moderna by 341.3% during the third quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock worth $3,318,000 after acquiring an additional 38,400 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Moderna by 11.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after buying an additional 167,596 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Moderna by 28.1% during the fourth quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after buying an additional 69,360 shares in the last quarter. Institutional investors and hedge funds 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.