Commonwealth Equity Services LLC trimmed its stake in Moderna, Inc. (NASDAQ:MRNA) by 4.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 100,441 shares of the company’s stock after selling 4,930 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Moderna were worth $23,601,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in shares of Moderna by 1.2% during the second quarter. Baillie Gifford & Co. now owns 45,883,213 shares of the company’s stock valued at $10,781,638,000 after purchasing an additional 545,449 shares in the last quarter. Morgan Stanley raised its holdings in Moderna by 41.9% in the 1st quarter. Morgan Stanley now owns 8,222,788 shares of the company’s stock worth $1,076,775,000 after purchasing an additional 2,427,704 shares during the period. Theleme Partners LLP lifted its stake in shares of Moderna by 17.9% during the 1st quarter. Theleme Partners LLP now owns 6,302,056 shares of the company’s stock valued at $825,254,000 after buying an additional 958,358 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Moderna by 6.6% during the first quarter. Geode Capital Management LLC now owns 3,806,430 shares of the company’s stock worth $497,852,000 after acquiring an additional 235,190 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its position in Moderna by 0.6% in the first quarter. Banque Pictet & Cie SA now owns 3,039,409 shares of the company’s stock worth $398,011,000 after purchasing an additional 19,400 shares during the last quarter. Hedge funds and other institutional investors own 55.89% of the company’s stock.
A number of analysts have weighed in on the company. Jefferies Financial Group upped their target price on Moderna from $170.00 to $250.00 and gave the stock a “hold” rating in a report on Thursday, July 15th. They noted that the move was a valuation call. Argus increased their target price on shares of Moderna from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, June 24th. Oppenheimer downgraded Moderna from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 5th. Morgan Stanley boosted their target price on Moderna from $190.00 to $337.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 7th. Finally, Piper Sandler downgraded shares of Moderna from an “overweight” rating to a “neutral” rating in a research note on Friday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Moderna currently has an average rating of “Hold” and an average price target of $205.21.
Moderna (NASDAQ:MRNA) last issued its quarterly earnings results on Thursday, August 5th. The company reported $6.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.01 by $0.45. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.23 billion. Moderna had a net margin of 49.79% and a return on equity of 88.13%. During the same quarter in the previous year, the company earned ($0.31) EPS. The company’s revenue for the quarter was up 6457.2% on a year-over-year basis. As a group, analysts predict that Moderna, Inc. will post 29.17 EPS for the current fiscal year.
In related news, insider Juan Andres sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $229.62, for a total transaction of $1,148,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Hoge sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $229.62, for a total value of $2,296,200.00. Following the completion of the sale, the president now owns 1,619,597 shares of the company’s stock, valued at $371,891,863.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,000 shares of company stock valued at $117,458,920. 19.40% of the stock is owned by corporate insiders.
Moderna, Inc engages in the development of transformative medicines based on messenger ribonucleic acid (mRNA). Its product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.
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