Citigroup Cuts Moderna (NASDAQ:MRNA) Price Target to $28.00

Moderna (NASDAQ:MRNA) had its price objective cut by Citigroup from $30.00 to $28.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also weighed in on MRNA. Cowen began coverage on Moderna in a research note on Sunday, July 13th. They issued a “hold” rating for the company. Evercore ISI set a $32.00 price objective on Moderna in a research report on Friday, August 1st. Bank of America decreased their target price on Moderna from $26.00 to $25.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a report on Monday, October 20th. Finally, Barclays reduced their price objective on shares of Moderna from $40.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Moderna has an average rating of “Hold” and an average price target of $36.86.

Moderna Stock Performance

Moderna stock opened at $26.74 on Thursday. The business’s 50-day simple moving average is $25.94 and its two-hundred day simple moving average is $27.15. The company has a market cap of $10.44 billion, a PE ratio of -3.55 and a beta of 2.01. Moderna has a fifty-two week low of $23.15 and a fifty-two week high of $57.69.

Moderna (NASDAQ:MRNA) last issued its earnings results on Friday, August 1st. The company reported ($2.13) EPS for the quarter, topping analysts’ consensus estimates of ($2.99) by $0.86. Moderna had a negative return on equity of 25.96% and a negative net margin of 94.31%.The firm had revenue of $142.00 million for the quarter, compared to the consensus estimate of $116.26 million. During the same quarter in the prior year, the business earned ($3.33) earnings per share. The company’s revenue was down 41.1% compared to the same quarter last year. Moderna has set its FY 2025 guidance at EPS. As a group, analysts predict that Moderna will post -9.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Moderna

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bayforest Capital Ltd purchased a new position in Moderna during the third quarter worth approximately $392,000. Oregon Public Employees Retirement Fund increased its stake in shares of Moderna by 34.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 39,548 shares of the company’s stock worth $1,022,000 after acquiring an additional 10,137 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Moderna by 50.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,246 shares of the company’s stock worth $420,000 after acquiring an additional 5,417 shares during the period. HB Wealth Management LLC boosted its position in shares of Moderna by 50.2% during the 3rd quarter. HB Wealth Management LLC now owns 10,933 shares of the company’s stock valued at $282,000 after acquiring an additional 3,652 shares during the last quarter. Finally, CX Institutional grew its holdings in shares of Moderna by 589.4% in the third quarter. CX Institutional now owns 7,121 shares of the company’s stock valued at $184,000 after purchasing an additional 6,088 shares during the period. 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.