PDT Partners LLC Reduces Position in Moderna, Inc. (NASDAQ:MRNA)

PDT Partners LLC lowered its stake in shares of Moderna, Inc. (NASDAQ:MRNA) by 46.3% during the third quarter, Holdings Channel reports. The fund owned 21,300 shares of the company’s stock after selling 18,390 shares during the quarter. PDT Partners LLC’s holdings in Moderna were worth $1,423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRNA. International Assets Investment Management LLC boosted its stake in shares of Moderna by 10,687.1% during the 3rd quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock worth $21,353,000 after purchasing an additional 316,552 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Moderna by 201.9% during the second quarter. State of Michigan Retirement System now owns 274,248 shares of the company’s stock valued at $32,567,000 after buying an additional 183,407 shares during the period. The Manufacturers Life Insurance Company boosted its position in Moderna by 6.2% during the third quarter. The Manufacturers Life Insurance Company now owns 3,073,934 shares of the company’s stock worth $205,431,000 after acquiring an additional 178,939 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Moderna by 11.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after acquiring an additional 167,596 shares during the period. Finally, Citigroup Inc. raised its holdings in Moderna by 30.5% in the 3rd quarter. Citigroup Inc. now owns 591,910 shares of the company’s stock valued at $39,557,000 after acquiring an additional 138,378 shares during the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Moderna from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $80.00 in a report on Wednesday, August 7th. Barclays decreased their price target on Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Hsbc Global Res raised shares of Moderna from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Piper Sandler reissued an “overweight” rating and issued a $69.00 target price (down from $115.00) on shares of Moderna in a research report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given 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 a consensus target price of $83.33.

Insider Activity

In other Moderna news, CFO James M. Mock sold 715 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the transaction, the chief financial officer now directly owns 9,505 shares of the company’s stock, valued at $571,440.60. This represents a 7.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,147 shares of company stock worth $76,245 over the last 90 days. Company insiders own 15.70% of the company’s stock.

Moderna Trading Down 0.8 %

NASDAQ:MRNA opened at $43.06 on Monday. The business’s 50-day moving average is $52.38 and its two-hundred day moving average is $90.84. The firm has a market capitalization of $16.57 billion, a PE ratio of -7.40 and a beta of 1.69. Moderna, Inc. has a 12 month low of $35.80 and a 12 month high of $170.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($1.89) by $1.92. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted ($1.39) EPS. Research analysts predict that Moderna, Inc. will post -9.44 earnings per share for the current fiscal year.

Moderna 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.