Costello Asset Management INC Takes $30,000 Position in Moderna, Inc. (NASDAQ:MRNA)

Costello Asset Management INC purchased a new stake in Moderna, Inc. (NASDAQ:MRNA) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,056 shares of the company’s stock, valued at approximately $30,000.

Other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. boosted its stake in Moderna by 51.2% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock valued at $42,000 after purchasing an additional 343 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in Moderna by 53.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,128 shares of the company’s stock valued at $32,000 after purchasing an additional 392 shares during the period. Parallel Advisors LLC boosted its stake in Moderna by 11.4% in the 1st quarter. Parallel Advisors LLC now owns 4,403 shares of the company’s stock valued at $125,000 after purchasing an additional 451 shares during the period. Blue Sky Capital Consultants Group Inc. boosted its stake in Moderna by 3.8% in the 1st quarter. Blue Sky Capital Consultants Group Inc. now owns 15,119 shares of the company’s stock valued at $429,000 after purchasing an additional 556 shares during the period. Finally, Empirical Finance LLC boosted its stake in Moderna by 7.3% in the 1st quarter. Empirical Finance LLC now owns 9,215 shares of the company’s stock valued at $261,000 after purchasing an additional 624 shares during the period. Institutional investors own 75.33% of the company’s stock.

Moderna Stock Performance

Moderna stock opened at $26.71 on Thursday. Moderna, Inc. has a 52 week low of $23.15 and a 52 week high of $91.99. The stock has a fifty day moving average of $29.28 and a 200-day moving average of $30.15. The stock has a market capitalization of $10.39 billion, a P/E ratio of -3.55 and a beta of 1.83.

Moderna (NASDAQ:MRNA) last issued its earnings results on Friday, August 1st. The company reported ($2.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.99) by $0.86. Moderna had a negative return on equity of 25.96% and a negative net margin of 94.31%. The business had revenue of $142.00 million during the quarter, compared to analysts’ expectations of $116.26 million. During the same quarter in the prior year, the firm earned ($3.33) EPS. The business’s revenue for the quarter was down 41.1% compared to the same quarter last year. On average, research analysts forecast that Moderna, Inc. will post -9.61 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup assumed coverage on Moderna in a research note on Friday, August 1st. They issued a “neutral” rating and a $40.00 price target for the company. Barclays reduced their price target on Moderna from $40.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday. Evercore ISI set a $32.00 target price on Moderna in a research report on Friday, August 1st. Wells Fargo & Company reiterated an “equal weight” rating on shares of Moderna in a research report on Sunday, July 13th. Finally, UBS Group cut their target price on Moderna from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.61.

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.