Moderna (NASDAQ:MRNA) Given New $135.00 Price Target at Royal Bank of Canada

Moderna (NASDAQ:MRNA) had its price objective lifted by Royal Bank of Canada from $125.00 to $135.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

MRNA has been the topic of several other reports. HSBC reissued a reduce rating and issued a $86.00 price objective (up from $75.00) on shares of Moderna in a report on Monday, February 26th. Needham & Company LLC reiterated a hold rating on shares of Moderna in a report on Thursday. William Blair reiterated a market perform rating on shares of Moderna in a research report on Monday, April 1st. Jefferies Financial Group reissued a buy rating and issued a $125.00 price target on shares of Moderna in a research note on Tuesday, April 9th. Finally, Oppenheimer boosted their price target on shares of Moderna from $142.00 to $163.00 and gave the stock an outperform rating in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $129.55.

Moderna Stock Down 0.5 %

Moderna stock traded down $0.59 during midday trading on Friday, hitting $125.00. 4,513,133 shares of the company’s stock were exchanged, compared to its average volume of 3,445,723. The firm has a 50-day moving average of $105.05 and a two-hundred day moving average of $94.37. Moderna has a 12 month low of $62.55 and a 12 month high of $142.79. The company has a quick ratio of 3.36, a current ratio of 4.03 and a debt-to-equity ratio of 0.04.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($3.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.59) by $0.52. Moderna had a negative net margin of 115.82% and a negative return on equity of 20.10%. The business had revenue of $167.00 million for the quarter, compared to analyst estimates of $93.26 million. During the same quarter in the prior year, the business posted $0.19 EPS. Moderna’s revenue for the quarter was down 91.0% compared to the same quarter last year. On average, equities research analysts forecast that Moderna will post -7.51 EPS for the current year.

Insiders Place Their Bets

In other Moderna news, Director Noubar Afeyan sold 15,000 shares of Moderna stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.92, for a total transaction of $1,663,800.00. Following the sale, the director now directly owns 2,026,931 shares in the company, valued at approximately $224,827,186.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.92, for a total transaction of $1,663,800.00. Following the completion of the transaction, the director now directly owns 2,026,931 shares in the company, valued at approximately $224,827,186.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Stephen Hoge sold 2,388 shares of Moderna stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total value of $225,833.16. Following the sale, the president now directly owns 1,515,898 shares in the company, valued at approximately $143,358,473.86. The disclosure for this sale can be found here. Insiders sold a total of 139,954 shares of company stock worth $14,822,576 in the last 90 days. 15.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Moderna

Several hedge funds have recently bought and sold shares of MRNA. International Assets Investment Management LLC grew its stake in Moderna by 6,528.9% in the 4th quarter. International Assets Investment Management LLC now owns 387,656 shares of the company’s stock valued at $38,552,000 after buying an additional 381,808 shares during the last quarter. abrdn plc grew its position in Moderna by 477.5% during the 4th quarter. abrdn plc now owns 483,574 shares of the company’s stock worth $48,091,000 after acquiring an additional 399,843 shares during the last quarter. Van ECK Associates Corp grew its holdings in Moderna by 19.2% during the 4th quarter. Van ECK Associates Corp now owns 270,774 shares of the company’s stock worth $26,929,000 after acquiring an additional 43,646 shares during the last quarter. Invesco Ltd. raised its position in Moderna by 19.8% in the 3rd quarter. Invesco Ltd. now owns 3,126,028 shares of the company’s stock worth $322,887,000 after purchasing an additional 517,683 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD raised its position in shares of Moderna by 10.5% during the third quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 32,188 shares of the company’s stock worth $3,252,000 after acquiring an additional 3,052 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.