Moderna (NASDAQ:MRNA) Price Target Lowered to $33.00 at JPMorgan Chase & Co.

Moderna (NASDAQ:MRNA) had its target price dropped by research analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.13% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Bank of America cut their price target on Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research note on Tuesday, February 11th. Berenberg Bank upped their price objective on shares of Moderna from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Morgan Stanley lowered their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Barclays cut shares of Moderna from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $111.00 to $45.00 in a report on Tuesday, February 18th. Finally, Evercore ISI set a $50.00 price objective on Moderna in a report on Friday, February 14th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.00.

Moderna Stock Down 0.4 %

MRNA stock traded down $0.14 during trading on Friday, hitting $32.31. The company had a trading volume of 2,691,542 shares, compared to its average volume of 11,749,064. The firm has a 50-day moving average price of $35.10 and a 200-day moving average price of $46.36. The firm has a market cap of $12.47 billion, a PE ratio of -3.49 and a beta of 1.86. Moderna has a 1-year low of $29.25 and a 1-year high of $170.47.

Institutional Investors Weigh In On Moderna

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