Canaccord Genuity Group Increases Moderna (NASDAQ:MRNA) Price Target to $106.00

Moderna (NASDAQ:MRNA) had its target price increased by Canaccord Genuity Group from $91.00 to $106.00 in a report released on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

MRNA has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of Moderna from $125.00 to $135.00 and gave the company an outperform rating in a report on Friday. Oppenheimer boosted their price objective on shares of Moderna from $142.00 to $163.00 and gave the company an outperform rating in a report on Friday. HSBC reissued a reduce rating and issued a $86.00 price objective (up previously from $75.00) on shares of Moderna in a report on Monday, February 26th. William Blair reissued a market perform rating on shares of Moderna in a report on Monday, April 1st. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Moderna in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $129.55.

Moderna Stock Performance

Shares of NASDAQ MRNA traded down $2.87 during midday trading on Friday, reaching $122.13. 3,948,735 shares of the stock were exchanged, compared to its average volume of 4,142,523. Moderna has a 12 month low of $62.55 and a 12 month high of $142.79. The business has a 50-day simple moving average of $105.05 and a two-hundred day simple moving average of $94.48. The company has a current ratio of 4.03, a quick ratio of 3.91 and a debt-to-equity ratio of 0.04.

Moderna (NASDAQ:MRNA) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($3.07) earnings per share for the quarter, topping the consensus estimate of ($3.59) by $0.52. The company had revenue of $167.00 million for the quarter, compared to analyst estimates of $93.26 million. Moderna had a negative net margin of 115.82% and a negative return on equity of 20.10%. Moderna’s revenue for the quarter was down 91.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. On average, analysts anticipate that Moderna will post -7.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Noubar Afeyan sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.92, for a total transaction of $1,663,800.00. Following the completion of the transaction, the director now owns 2,026,931 shares of the company’s stock, valued at $224,827,186.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Noubar Afeyan sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.92, for a total transaction of $1,663,800.00. Following the completion of the transaction, the director now owns 2,026,931 shares of the company’s stock, valued at $224,827,186.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Mock sold 647 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total transaction of $61,186.79. Following the transaction, the chief financial officer now directly owns 4,300 shares of the company’s stock, valued at approximately $406,651. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,954 shares of company stock valued at $14,822,576. Insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Moderna

A number of hedge funds have recently bought and sold shares of MRNA. Allworth Financial LP grew its holdings in Moderna by 6.5% in the fourth quarter. Allworth Financial LP now owns 1,660 shares of the company’s stock worth $165,000 after purchasing an additional 101 shares during the period. TIAA Trust National Association raised its position in Moderna by 2.3% in the fourth quarter. TIAA Trust National Association now owns 4,491 shares of the company’s stock worth $447,000 after acquiring an additional 102 shares during the period. Principle Wealth Partners LLC raised its position in Moderna by 4.3% in the first quarter. Principle Wealth Partners LLC now owns 2,497 shares of the company’s stock worth $266,000 after acquiring an additional 102 shares during the period. Sound Income Strategies LLC raised its position in shares of Moderna by 17.8% in the fourth quarter. Sound Income Strategies LLC now owns 762 shares of the company’s stock valued at $76,000 after purchasing an additional 115 shares during the period. Finally, EverSource Wealth Advisors LLC raised 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 purchasing an additional 116 shares during the period. Institutional investors 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.