Patton Fund Management Inc. Buys Shares of 10,132 Moderna, Inc. $MRNA

Patton Fund Management Inc. bought a new stake in shares of Moderna, Inc. (NASDAQ:MRNA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,132 shares of the company’s stock, valued at approximately $280,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Moderna by 17.5% during the 1st quarter. Invesco Ltd. now owns 5,883,624 shares of the company’s stock valued at $166,801,000 after buying an additional 877,162 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Moderna by 0.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,597,236 shares of the company’s stock valued at $101,982,000 after buying an additional 11,270 shares during the last quarter. Northern Trust Corp raised its stake in Moderna by 5.4% during the 1st quarter. Northern Trust Corp now owns 3,119,626 shares of the company’s stock valued at $88,441,000 after buying an additional 160,572 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Moderna by 12.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,629,865 shares of the company’s stock valued at $74,557,000 after buying an additional 285,662 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Moderna by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,918,248 shares of the company’s stock valued at $54,382,000 after buying an additional 34,034 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MRNA. Bank of America reduced their price objective on Moderna from $26.00 to $25.00 and set an “underperform” rating for the company in a research note on Tuesday, July 22nd. Leerink Partners reduced their price objective on Moderna from $18.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company restated an “equal weight” rating on shares of Moderna in a research note on Sunday, July 13th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective on shares of Moderna in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. set a $26.00 price objective on Moderna in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.81.

Moderna Stock Performance

Shares of MRNA stock opened at $24.49 on Friday. Moderna, Inc. has a 52-week low of $23.15 and a 52-week high of $67.96. The firm has a market capitalization of $9.53 billion, a PE ratio of -3.25 and a beta of 1.93. The stock has a fifty day simple moving average of $26.91 and a two-hundred day simple moving average of $27.66.

Moderna (NASDAQ:MRNA) last issued its quarterly 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 analyst estimates of $116.26 million. During the same quarter in the prior year, the business posted ($3.33) EPS. Moderna’s revenue for the quarter was down 41.1% compared to the same quarter last year. Moderna has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Moderna, Inc. will post -9.61 EPS for the current fiscal year.

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.