JPMorgan Chase & Co. Cuts Moderna (NASDAQ:MRNA) Price Target to $33.00

Moderna (NASDAQ:MRNA) had its target price trimmed by JPMorgan Chase & Co. from $40.00 to $33.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research analysts have also commented on MRNA. Barclays lowered Moderna from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $111.00 to $45.00 in a report on Tuesday, February 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. Citigroup assumed coverage on Moderna in a research report on Thursday, March 13th. They set a “neutral” rating and a $40.00 target price for the company. Bank of America cut their target price on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Finally, Argus downgraded Moderna from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.00.

Moderna Price Performance

Shares of NASDAQ MRNA opened at $32.66 on Friday. The stock’s fifty day moving average price is $34.91 and its two-hundred day moving average price is $45.67. Moderna has a one year low of $29.25 and a one year high of $170.47. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -3.52 and a beta of 1.86.

Hedge Funds Weigh In On Moderna

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Moderna by 60.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,431 shares of the company’s stock worth $558,000 after purchasing an additional 5,078 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Moderna in the 4th quarter worth about $4,486,000. PKO Investment Management Joint Stock Co acquired a new position in Moderna in the 4th quarter worth about $249,000. Probity Advisors Inc. increased its holdings in Moderna by 121.8% in the 4th quarter. Probity Advisors Inc. now owns 10,746 shares of the company’s stock worth $447,000 after purchasing an additional 5,902 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Moderna in the fourth quarter valued at about $18,084,000. Institutional investors and hedge funds own 75.33% of the company’s stock.

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.