M&T Bank Corp Cuts Stock Position in Moderna, Inc. (NASDAQ:MRNA)

M&T Bank Corp lessened its stake in shares of Moderna, Inc. (NASDAQ:MRNA) by 22.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,137 shares of the company’s stock after selling 4,793 shares during the period. M&T Bank Corp’s holdings in Moderna were worth $1,079,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Moderna by 12.1% during the third quarter. State Street Corp now owns 16,847,212 shares of the company’s stock valued at $1,125,899,000 after acquiring an additional 1,823,276 shares in the last quarter. Wellington Management Group LLP increased its stake in Moderna by 21.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,224,685 shares of the company’s stock valued at $349,166,000 after purchasing an additional 906,114 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Moderna during the 3rd quarter valued at about $23,825,000. International Assets Investment Management LLC raised its holdings in Moderna by 10,687.1% in the third quarter. International Assets Investment Management LLC now owns 319,514 shares of the company’s stock worth $21,353,000 after buying an additional 316,552 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of Moderna by 201.9% in the second quarter. State of Michigan Retirement System now owns 274,248 shares of the company’s stock worth $32,567,000 after buying an additional 183,407 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MRNA. Sanford C. Bernstein started coverage on shares of Moderna in a report on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price objective for the company. HSBC upgraded Moderna from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, November 18th. Hsbc Global Res raised Moderna from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Oppenheimer lowered Moderna from an “outperform” rating to a “market perform” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Moderna from $59.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.50.

Moderna Price Performance

Shares of Moderna stock opened at $41.83 on Monday. The stock has a market cap of $16.10 billion, a P/E ratio of -7.19 and a beta of 1.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.20 and a current ratio of 4.39. The stock’s fifty day moving average is $48.26 and its 200 day moving average is $83.22. Moderna, Inc. has a one year low of $35.80 and a one year high of $170.47.

Moderna (NASDAQ:MRNA) last posted 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 the consensus estimate of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned ($1.39) earnings per share. Sell-side analysts anticipate that Moderna, Inc. will post -9.3 earnings per share for the current year.

Insiders Place Their Bets

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $42.79, for a total transaction of $60,676.22. Following the sale, the insider now directly owns 19,717 shares of the company’s stock, valued at $843,690.43. This trade represents a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James M. Mock sold 715 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.12, for a total value of $42,985.80. Following the completion of the transaction, the chief financial officer now owns 9,505 shares in the company, valued at $571,440.60. The trade was a 7.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,379 shares of company stock worth $158,195. Company insiders own 15.70% of the company’s stock.

Moderna 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.