Brokerages Set Moderna, Inc. (NASDAQ:MRNA) Target Price at $59.00

Shares of Moderna, Inc. (NASDAQ:MRNA) have been given a consensus rating of “Hold” by the twenty-four ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $59.00.

MRNA has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 target price on shares of Moderna in a research report on Tuesday, February 18th. Bank of America lowered their target price on Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a report on Tuesday, February 11th. Argus lowered shares of Moderna from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. UBS Group cut their price objective on Moderna from $96.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley cut their price objective on Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th.

Moderna Trading Down 0.9 %

MRNA opened at $33.85 on Friday. The business’s 50 day moving average is $34.87 and its 200-day moving average is $45.12. The stock has a market cap of $13.09 billion, a PE ratio of -3.65 and a beta of 1.86. Moderna has a twelve month low of $29.25 and a twelve month high of $170.47.

Hedge Funds Weigh In On Moderna

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

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.