Moderna (NASDAQ:MRNA) Sets New 52-Week Low – What’s Next?

Moderna, Inc. (NASDAQ:MRNA)’s share price reached a new 52-week low on Thursday . The stock traded as low as $62.20 and last traded at $62.24, with a volume of 73183 shares changing hands. The stock had previously closed at $63.16.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on Moderna from $178.00 to $139.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 price objective on shares of Moderna in a report on Thursday, September 19th. Leerink Partners cut their target price on shares of Moderna from $60.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, September 17th. Evercore ISI reiterated an “in-line” rating and set a $120.00 price target on shares of Moderna in a research note on Thursday, June 27th. Finally, Oppenheimer lowered shares of Moderna from an “outperform” rating to a “market perform” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Moderna currently has an average rating of “Hold” and a consensus price target of $100.44.

Moderna Price Performance

The company has a market cap of $23.07 billion, a price-to-earnings ratio of -3.84 and a beta of 1.67. The company has a 50-day simple moving average of $78.45 and a 200-day simple moving average of $107.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.92 and a current ratio of 4.09.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The firm had revenue of $241.00 million for the quarter, compared to analyst estimates of $128.41 million. During the same quarter in the prior year, the company posted ($3.62) earnings per share. Moderna’s quarterly revenue was down 29.9% on a year-over-year basis. As a group, research analysts predict that Moderna, Inc. will post -9.86 earnings per share for the current year.

Insider Activity

In related news, CFO James M. Mock sold 689 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $118.24, for a total transaction of $81,467.36. Following the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at approximately $859,486.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President Stephen Hoge sold 15,000 shares of Moderna stock in a transaction on Monday, July 15th. The stock was sold at an average price of $121.12, for a total transaction of $1,816,800.00. Following the completion of the transaction, the president now owns 1,442,089 shares of the company’s stock, valued at $174,665,819.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James M. Mock sold 689 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares in the company, valued at $859,486.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,158 shares of company stock worth $9,259,012 in the last 90 days. 15.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Moderna

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Moderna during the 2nd quarter worth approximately $26,000. Cedar Wealth Management LLC raised its holdings in shares of Moderna by 45.0% in the first quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after acquiring an additional 90 shares during the last quarter. Westside Investment Management Inc. acquired a new position in shares of Moderna in the first quarter worth $32,000. Family Firm Inc. purchased a new stake in shares of Moderna in the second quarter valued at $33,000. Finally, Rise Advisors LLC boosted its stake in shares of Moderna by 953.3% during the first quarter. Rise Advisors LLC now owns 316 shares of the company’s stock valued at $34,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds 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.