New York Life Investment Management LLC Grows Stock Position in Moderna, Inc. $MRNA

New York Life Investment Management LLC raised its holdings in Moderna, Inc. (NASDAQ:MRNA) by 59.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,425 shares of the company’s stock after buying an additional 31,327 shares during the quarter. New York Life Investment Management LLC’s holdings in Moderna were worth $2,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its stake in Moderna by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 93,662 shares of the company’s stock valued at $2,584,000 after buying an additional 4,166 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Moderna in the second quarter valued at about $2,836,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Moderna by 20.8% in the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 49,241 shares of the company’s stock valued at $1,356,000 after buying an additional 8,469 shares during the last quarter. Green Alpha Advisors LLC raised its stake in Moderna by 9.1% in the second quarter. Green Alpha Advisors LLC now owns 31,271 shares of the company’s stock valued at $863,000 after buying an additional 2,597 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Moderna by 3.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 119,338 shares of the company’s stock valued at $3,293,000 after buying an additional 4,516 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cowen assumed coverage on Moderna in a research note on Sunday, July 13th. They issued a “hold” rating for the company. Citigroup decreased their price target on Moderna from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Moderna in a report on Wednesday, October 8th. Leerink Partners cut their price objective on Moderna from $18.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, August 22nd. Finally, UBS Group cut their price objective on Moderna from $70.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.86.

Moderna Stock Performance

Shares of MRNA stock opened at $27.16 on Friday. The stock’s 50-day simple moving average is $25.86 and its 200-day simple moving average is $27.16. The firm has a market capitalization of $10.61 billion, a PE ratio of -3.61 and a beta of 2.01. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $56.69.

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

Moderna 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.