JPMorgan Chase & Co. Issues Pessimistic Forecast for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $33.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 0.99% from the stock’s previous close.

Several other equities analysts have also recently commented on MRNA. Bank of America reduced their target price on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, February 11th. UBS Group dropped their price target on Moderna from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada dropped their price target on Moderna from $32.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Barclays dropped their price target on Moderna from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. Finally, William Blair reissued a “market perform” rating on shares of Moderna in a research report on Thursday, April 17th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.58.

Moderna Trading Down 1.7%

Moderna stock opened at $26.26 on Thursday. The stock has a market cap of $10.16 billion, a P/E ratio of -2.83 and a beta of 1.99. The stock has a 50 day moving average of $27.23 and a 200-day moving average of $34.81. Moderna has a 52 week low of $23.15 and a 52 week high of $170.47.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MRNA. Assenagon Asset Management S.A. boosted its stake in Moderna by 13.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 14,978 shares of the company’s stock valued at $623,000 after buying an additional 1,819 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Moderna by 58.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock valued at $44,000 after buying an additional 389 shares in the last quarter. SG Americas Securities LLC boosted its stake in Moderna by 108.0% during the fourth quarter. SG Americas Securities LLC now owns 109,761 shares of the company’s stock valued at $4,564,000 after buying an additional 56,982 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Moderna by 48.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 26,137 shares of the company’s stock valued at $1,087,000 after buying an additional 8,579 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Moderna during the fourth quarter valued at about $624,000. Institutional investors own 75.33% of the company’s stock.

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.