Moderna (NASDAQ:MRNA) Stock Price Up 6.3% – Here’s Why

Moderna, Inc. (NASDAQ:MRNA)’s stock price rose 6.3% during trading on Friday . The stock traded as high as $27.10 and last traded at $27.1040. Approximately 6,796,861 shares traded hands during trading, a decline of 37% from the average daily volume of 10,845,015 shares. The stock had previously closed at $25.49.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MRNA shares. Berenberg Bank set a $28.00 price objective on Moderna in a report on Monday, November 17th. Citigroup lowered their price target on Moderna from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research note on Monday, October 20th. Morgan Stanley upped their price target on shares of Moderna from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Finally, Piper Sandler reissued an “overweight” rating on shares of Moderna in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Moderna has a consensus rating of “Reduce” and an average target price of $29.46.

Moderna Stock Up 7.6%

The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of -3.40 and a beta of 1.11. The company’s fifty day simple moving average is $25.80 and its 200 day simple moving average is $26.97.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, November 6th. The company reported ($0.51) 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 net margin of 139.61% and a negative return on equity of 29.81%. Moderna’s revenue was down 45.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRNA. Norges Bank acquired a new stake in shares of Moderna during the second quarter worth $94,910,000. Federated Hermes Inc. raised its stake in Moderna by 364.5% in the 2nd quarter. Federated Hermes Inc. now owns 2,869,271 shares of the company’s stock worth $79,163,000 after purchasing an additional 2,251,497 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Moderna by 19.1% in the 2nd 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. Vanguard Group Inc. grew its position 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 purchasing an additional 1,312,192 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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. 75.33% of the stock is owned by institutional investors and hedge funds.

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.