300,000 Shares in Moderna, Inc. (NASDAQ:MRNA) Purchased by Tang Capital Management LLC

Tang Capital Management LLC bought a new stake in Moderna, Inc. (NASDAQ:MRNA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 300,000 shares of the company’s stock, valued at approximately $12,474,000. Tang Capital Management LLC owned approximately 0.08% of Moderna at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB increased its holdings in Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock valued at $33,000 after buying an additional 587 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Moderna by 286.2% in the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock valued at $37,000 after buying an additional 664 shares in the last quarter. Compass Planning Associates Inc purchased a new position in Moderna in the fourth quarter valued at about $37,000. Crowley Wealth Management Inc. purchased a new position in Moderna in the fourth quarter valued at about $41,000. Finally, Itau Unibanco Holding S.A. increased its holdings in Moderna by 51.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock valued at $42,000 after buying an additional 343 shares in the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRNA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Moderna from $40.00 to $33.00 and set an “underweight” rating for the company in a report on Friday, March 21st. The Goldman Sachs Group cut shares of Moderna from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $99.00 to $51.00 in a research note on Wednesday, January 29th. Royal Bank of Canada dropped their price objective on shares of Moderna from $32.00 to $28.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. William Blair reissued a “market perform” rating on shares of Moderna in a research note on Thursday, April 17th. Finally, Barclays dropped their price objective on shares of Moderna from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Moderna currently has an average rating of “Hold” and a consensus price target of $53.95.

Moderna Stock Up 5.1%

Shares of MRNA opened at $24.86 on Friday. The firm has a market cap of $9.61 billion, a PE ratio of -2.68 and a beta of 1.99. The company’s fifty day moving average is $27.87 and its two-hundred day moving average is $35.44. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $170.47.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.92) by $0.40. The company had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. Moderna had a negative net margin of 110.04% and a negative return on equity of 28.74%. Moderna’s revenue for the quarter was down 35.3% on a year-over-year basis. During the same quarter last year, the business earned ($3.07) EPS. As a group, equities research analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current year.

Moderna Company 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.