California Public Employees Retirement System Has $16.29 Million Stock Position in Moderna, Inc. (NASDAQ:MRNA)

California Public Employees Retirement System lessened its stake in Moderna, Inc. (NASDAQ:MRNA) by 55.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,759 shares of the company’s stock after selling 483,267 shares during the quarter. California Public Employees Retirement System owned about 0.10% of Moderna worth $16,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Allianz SE bought a new position in Moderna in the 4th quarter worth approximately $151,000. Aufman Associates Inc raised its position in shares of Moderna by 26.2% during the fourth quarter. Aufman Associates Inc now owns 11,066 shares of the company’s stock worth $460,000 after acquiring an additional 2,299 shares during the last quarter. Allstate Corp acquired a new position in shares of Moderna during the fourth quarter valued at $396,000. DnB Asset Management AS boosted its holdings in Moderna by 5.2% in the fourth quarter. DnB Asset Management AS now owns 57,755 shares of the company’s stock valued at $2,401,000 after acquiring an additional 2,865 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in Moderna by 170.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock worth $73,447,000 after purchasing an additional 1,113,455 shares during the period. 75.33% of the stock is owned by institutional investors.

Moderna Price Performance

Shares of Moderna stock opened at $25.11 on Friday. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of -2.71 and a beta of 2.23. The stock’s 50-day moving average is $33.55 and its 200-day moving average is $43.01. Moderna, Inc. has a one year low of $23.76 and a one year high of $170.47.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Leerink Partners reduced their target price on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Citigroup initiated coverage on shares of Moderna in a report on Thursday, March 13th. They issued a “neutral” rating and a $40.00 price objective on the stock. Argus lowered shares of Moderna from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Bank of America cut their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Finally, UBS Group decreased their price objective on Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Moderna presently has a consensus rating of “Hold” and a consensus target price of $59.00.

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.