Moderna (NASDAQ:MRNA) Stock Price Up 7.3% – Here’s Why

Shares of Moderna, Inc. (NASDAQ:MRNA) traded up 7.3% on Tuesday . The stock traded as high as $54.34 and last traded at $55.9230. 2,805,151 shares were traded during trading, a decline of 69% from the average daily volume of 8,959,731 shares. The stock had previously closed at $52.13.

Key Headlines Impacting Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: FDA advisers voted in favor of Moderna’s flu vaccine for adults 50 and older, a key step that boosts approval odds and strengthens the investment case. Article: US FDA advisers vote in favor of Moderna’s flu vaccine
• Positive Sentiment: Shares have extended a rally as investors focus on the flu vaccine review and broader pipeline optimism, including Moderna’s investor-day catalysts. Article: Moderna (MRNA) Soars 11% Ahead of Investor Day
• Positive Sentiment: Unusual options trading showed heavy call buying, which suggests traders are betting on further upside in MRNA.
• Neutral Sentiment: Moderna plans to host its Science Day on June 25, which could provide another catalyst if management shares encouraging pipeline updates. Article: Moderna to Host Investor Event – Science Day
• Negative Sentiment: President Stephen Hoge sold shares under a pre-arranged trading plan, which may create a modest overhang even though it does not necessarily reflect changing fundamentals. Article: Moderna (NASDAQ:MRNA) President Sells $2,739,870.32 in Stock

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group set a $37.00 price target on Moderna and gave the stock a “hold” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group upped their price objective on shares of Moderna from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Barclays increased their price objective on shares of Moderna from $25.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 2nd. Morgan Stanley set a $33.00 target price on shares of Moderna in a research note on Friday, May 1st. Finally, UBS Group reissued a “neutral” rating on shares of Moderna in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Moderna presently has an average rating of “Reduce” and an average target price of $36.60.

Moderna Price Performance

The company has a market cap of $25.30 billion, a PE ratio of -7.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.41. The stock has a 50 day moving average of $50.05 and a 200-day moving average of $44.83.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Friday, May 1st. The company reported ($3.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.02) by ($0.38). The firm had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $236.37 million. Moderna had a negative net margin of 143.55% and a negative return on equity of 26.64%. The firm’s quarterly revenue was up 260.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.52) EPS. Equities analysts predict that Moderna, Inc. will post -6.51 earnings per share for the current year.

Insider Transactions at Moderna

In other news, President Stephen Hoge sold 53,336 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $51.37, for a total value of $2,739,870.32. Following the transaction, the president owned 1,483,848 shares in the company, valued at $76,225,271.76. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Thyme Klinger sold 3,471 shares of Moderna stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $50.00, for a total value of $173,550.00. Following the completion of the sale, the insider directly owned 67,468 shares in the company, valued at $3,373,400. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 125,088 shares of company stock valued at $6,193,713. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Moderna

A number of hedge funds have recently bought and sold shares of MRNA. Canton Hathaway LLC acquired a new stake in shares of Moderna in the first quarter valued at approximately $31,000. Assetmark Inc. lifted its position in Moderna by 35.1% during the first quarter. Assetmark Inc. now owns 801 shares of the company’s stock worth $41,000 after buying an additional 208 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Moderna during the second quarter worth $28,000. Encore Global Management LP acquired a new position in Moderna during the first quarter worth $51,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Moderna in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Company Profile

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.