Cornerstone Advisors LLC Increases Holdings in Moderna, Inc. (NASDAQ:MRNA)

Cornerstone Advisors LLC raised its stake in Moderna, Inc. (NASDAQ:MRNA) by 80.0% during the third quarter, HoldingsChannel.com reports. The fund owned 1,800 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Moderna were worth $120,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MRNA. Ashton Thomas Private Wealth LLC purchased a new position in shares of Moderna in the 2nd quarter worth $26,000. Family Firm Inc. bought a new stake in shares of Moderna during the 2nd quarter worth approximately $33,000. Bank & Trust Co bought a new position in shares of Moderna in the second quarter worth about $36,000. Hanseatic Management Services Inc. bought a new position in Moderna in the 2nd quarter worth about $48,000. Finally, Plato Investment Management Ltd increased its holdings in Moderna by 230.4% during the 2nd quarter. Plato Investment Management Ltd now owns 413 shares of the company’s stock worth $49,000 after purchasing an additional 288 shares during the period. 75.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Moderna news, CFO James M. Mock sold 715 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $60.12, for a total transaction of $42,985.80. Following the sale, the chief financial officer now owns 9,505 shares in the company, valued at $571,440.60. This represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,930 shares of company stock worth $217,170 over the last three months. Company insiders own 15.70% of the company’s stock.

Moderna Stock Performance

NASDAQ:MRNA opened at $38.40 on Friday. The company’s 50-day moving average is $56.13 and its two-hundred day moving average is $95.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.39 and a quick ratio of 4.20. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of -6.60 and a beta of 1.69. Moderna, Inc. has a 1-year low of $35.80 and a 1-year high of $170.47.

Moderna (NASDAQ:MRNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($1.89) by $1.92. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.25 billion. Moderna had a negative net margin of 43.77% and a negative return on equity of 17.68%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.39) EPS. Analysts forecast that Moderna, Inc. will post -9.44 EPS for the current year.

Wall Street Analyst Weigh In

MRNA has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Sanford C. Bernstein initiated coverage on Moderna in a research report on Thursday, October 17th. They set a “market perform” rating and a $55.00 target price on the stock. Oppenheimer cut shares of Moderna from an “outperform” rating to a “market perform” rating in a report on Friday, September 13th. Barclays cut their price target on shares of Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $69.00 price target (down from $115.00) on shares of Moderna in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Moderna has a consensus rating of “Hold” and an average price target of $84.00.

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.