Moderna (NASDAQ:MRNA) Given New $33.00 Price Target at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $40.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 2.13% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Berenberg Bank increased their target price on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America dropped their price objective on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Barclays lowered shares of Moderna from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $111.00 to $45.00 in a report on Tuesday, February 18th. Morgan Stanley cut their price objective 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. Finally, Argus downgraded Moderna from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.00.

Moderna Price Performance

NASDAQ MRNA traded down $0.14 during trading hours on Friday, hitting $32.31. The company had a trading volume of 2,691,542 shares, compared to its average volume of 11,749,064. The firm’s 50 day moving average is $35.10 and its 200 day moving average is $46.36. Moderna has a fifty-two week low of $29.25 and a fifty-two week high of $170.47. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of -3.49 and a beta of 1.86.

Hedge Funds Weigh In On Moderna

A number of hedge funds and other institutional investors have recently bought and sold shares of MRNA. Allworth Financial LP lifted its holdings in shares of Moderna by 17.3% in the 4th quarter. Allworth Financial LP now owns 1,901 shares of the company’s stock worth $73,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. lifted its stake in Moderna by 3.1% in the fourth quarter. Howard Capital Management Inc. now owns 9,994 shares of the company’s stock valued at $416,000 after buying an additional 297 shares during the last quarter. Larson Financial Group LLC lifted its stake in Moderna by 53.5% in the third quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock valued at $61,000 after buying an additional 317 shares during the last quarter. Empowered Funds LLC grew its position in shares of Moderna by 6.6% during the third quarter. Empowered Funds LLC now owns 5,199 shares of the company’s stock worth $347,000 after acquiring an additional 322 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in shares of Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock worth $42,000 after acquiring an additional 343 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors and hedge funds.

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.