The Manufacturers Life Insurance Company Has $138.96 Million Stock Holdings in Moderna, Inc. (NASDAQ:MRNA)

The Manufacturers Life Insurance Company lifted its position in shares of Moderna, Inc. (NASDAQ:MRNA) by 8.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,341,924 shares of the company’s stock after purchasing an additional 267,990 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Moderna were worth $138,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. abrdn plc grew its stake in Moderna by 28.1% in the 4th quarter. abrdn plc now owns 315,912 shares of the company’s stock valued at $12,842,000 after buying an additional 69,360 shares during the last quarter. Spire Wealth Management grew its stake in Moderna by 2,150.4% in the 4th quarter. Spire Wealth Management now owns 23,224 shares of the company’s stock valued at $966,000 after buying an additional 22,192 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Moderna by 4,418.9% in the 4th quarter. Proficio Capital Partners LLC now owns 147,360 shares of the company’s stock valued at $6,127,000 after buying an additional 144,099 shares during the last quarter. South Dakota Investment Council grew its stake in Moderna by 4.0% in the 4th quarter. South Dakota Investment Council now owns 299,399 shares of the company’s stock valued at $12,449,000 after buying an additional 11,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Moderna by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company’s stock valued at $300,219,000 after buying an additional 171,774 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MRNA has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating on the stock in a research note on Friday, March 21st. Evercore ISI set a $50.00 price objective on shares of Moderna in a report on Friday, February 14th. Morgan Stanley cut their price objective on shares of Moderna from $39.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Citigroup began coverage on shares of Moderna in a report on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price objective on shares of Moderna in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.70.

Moderna Stock Performance

NASDAQ:MRNA opened at $27.46 on Tuesday. The firm has a market cap of $10.62 billion, a PE ratio of -2.96 and a beta of 2.23. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $170.47. The business has a 50 day moving average price of $30.03 and a 200-day moving average price of $38.15.

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.