Bank of America Cuts Moderna (NASDAQ:MRNA) Price Target to $21.00

Moderna (NASDAQ:MRNA) had its target price decreased by Bank of America from $24.00 to $21.00 in a research report released on Monday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

MRNA has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Moderna in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a report on Monday, October 20th. Cowen assumed coverage on Moderna in a report 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. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Moderna in a research note on Sunday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.14.

Moderna Stock Performance

MRNA opened at $26.71 on Monday. The company has a market cap of $10.44 billion, a price-to-earnings ratio of -3.31 and a beta of 2.02. Moderna has a one year low of $23.04 and a one year high of $48.92. The business’s fifty day moving average is $25.92 and its two-hundred day moving average is $27.11.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.15) by $1.64. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $893.29 million. Moderna had a negative return on equity of 29.81% and a negative net margin of 139.61%.The business’s revenue was down 45.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. Moderna has set its FY 2025 guidance at EPS. On average, analysts predict that Moderna will post -9.61 EPS for the current fiscal year.

Institutional Trading of Moderna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRNA. Vanguard Group Inc. lifted its holdings in shares of Moderna by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 41,708,705 shares of the company’s stock worth $1,150,743,000 after acquiring an additional 1,312,192 shares during the period. Geode Capital Management LLC grew its holdings in Moderna by 19.1% in the second quarter. Geode Capital Management LLC now owns 8,877,280 shares of the company’s stock valued at $244,458,000 after purchasing an additional 1,420,690 shares during the period. Theleme Partners LLP increased its position in Moderna by 8.6% during the second quarter. Theleme Partners LLP now owns 7,868,810 shares of the company’s stock worth $217,100,000 after purchasing an additional 626,420 shares during the last quarter. Invesco Ltd. raised its stake in Moderna by 20.7% during the second quarter. Invesco Ltd. now owns 7,101,032 shares of the company’s stock worth $195,917,000 after purchasing an additional 1,217,408 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Moderna by 0.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,597,236 shares of the company’s stock worth $101,982,000 after purchasing an additional 11,270 shares during the period. Hedge funds and other institutional investors 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.