Moderna (NASDAQ:MRNA) Price Target Cut to $115.00 by Analysts at Piper Sandler

Moderna (NASDAQ:MRNA) had its price target reduced by Piper Sandler from $157.00 to $115.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 65.04% from the stock’s current price.

MRNA has been the subject of several other reports. Jefferies Financial Group lowered Moderna from a “buy” rating to a “hold” rating and reduced their price target for the stock from $120.00 to $65.00 in a research report on Friday. Oppenheimer lowered shares of Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday. HSBC raised shares of Moderna from a “reduce” rating to a “hold” rating and set a $82.00 price objective on the stock in a research report on Wednesday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lowered shares of Moderna from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $88.00 to $70.00 in a report on Friday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $115.21.

Moderna Stock Down 12.4 %

NASDAQ:MRNA opened at $69.68 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. The firm has a market cap of $26.70 billion, a PE ratio of -4.45 and a beta of 1.67. The company has a 50-day moving average of $96.06 and a 200 day moving average of $111.86. Moderna has a 1-year low of $62.55 and a 1-year high of $170.47.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. The firm had revenue of $241.00 million for the quarter, compared to the consensus estimate of $128.41 million. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The company’s quarterly revenue was down 29.9% on a year-over-year basis. During the same period last year, the firm earned ($3.62) earnings per share. As a group, research analysts anticipate that Moderna will post -9.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO James M. Mock sold 1,321 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total value of $104,874.19. Following the transaction, the chief financial officer now owns 8,600 shares in the company, valued at approximately $682,754. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO James M. Mock sold 1,321 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now directly owns 8,600 shares in the company, valued at $682,754. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.96, for a total transaction of $1,799,400.00. Following the completion of the sale, the director now directly owns 2,224,015 shares in the company, valued at $266,792,839.40. The disclosure for this sale can be found here. Insiders sold 108,158 shares of company stock valued at $13,239,712 over the last quarter. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of Moderna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC boosted its stake in shares of Moderna by 45.0% during the 1st quarter. Cedar Wealth Management LLC now owns 290 shares of the company’s stock worth $31,000 after acquiring an additional 90 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Moderna by 1.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 5,550 shares of the company’s stock worth $660,000 after purchasing an additional 93 shares during the period. CVA Family Office LLC boosted its position in Moderna by 21.6% during the second quarter. CVA Family Office LLC now owns 541 shares of the company’s stock worth $64,000 after purchasing an additional 96 shares in the last quarter. Claro Advisors LLC increased its position in shares of Moderna by 2.0% in the second quarter. Claro Advisors LLC now owns 5,546 shares of the company’s stock valued at $659,000 after buying an additional 108 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Moderna by 32.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock valued at $47,000 after buying an additional 116 shares in the last quarter. 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.