Moderna, Inc. (NASDAQ:MRNA – Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 177,638 put options on the company. This is an increase of approximately 258% compared to the average daily volume of 49,635 put options.
Trending Headlines about Moderna
Here are the key news stories impacting Moderna this week:
- Positive Sentiment: The INTerpath-001 trial met its primary endpoints for recurrence-free survival and distant metastasis-free survival. Adding intismeran to Merck’s Keytruda reduced the risk of melanoma returning or spreading compared with Keytruda alone, marking the first positive late-stage validation of a personalized mRNA cancer vaccine. Merck and Moderna announce positive Phase 3 INTerpath-001 results
- Positive Sentiment: The results substantially improve Moderna’s long-term growth outlook by supporting a potential oncology franchise beyond its COVID-19 and respiratory vaccine business. Investors also viewed the data as validating the company’s mRNA platform, while short covering likely amplified the move; short sellers faced unusually large losses as the stock surged. Reuters report on Moderna short sellers
- Positive Sentiment: William Blair upgraded Moderna from “market perform” to “outperform,” adding analyst support to the positive clinical readout. The company also received FDA approval for mFLUSIVA, its seasonal mRNA influenza vaccine, creating a potential additional commercial revenue source. The Fly report on William Blair’s upgrade
- Neutral Sentiment: The cancer-vaccine announcement provided topline results, and analysts are awaiting detailed efficacy, safety and follow-up data. The companies must still pursue regulatory approval and establish manufacturing and pricing for a complex individualized therapy. Reuters analysis of Moderna-Merck melanoma data
- Negative Sentiment: Put-option purchases were approximately 258% above typical daily volume, signaling heightened hedging or bearish speculation. Such activity may increase volatility, although it could also reflect investors protecting gains after the dramatic rally.
Wall Street Analysts Forecast Growth
MRNA has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Moderna in a research report on Friday, June 12th. UBS Group reaffirmed an “overweight” rating on shares of Moderna in a research note on Monday, August 3rd. Bank of America upped their price objective on shares of Moderna from $34.00 to $38.00 and gave the stock an “underperform” rating in a report on Tuesday, July 7th. Piper Sandler reissued an “overweight” rating on shares of Moderna in a research report on Monday, August 3rd. Finally, Citigroup raised their target price on Moderna from $41.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.94.
Moderna Stock Performance
NASDAQ:MRNA traded up $94.07 during midday trading on Wednesday, reaching $157.03. The stock had a trading volume of 127,802,149 shares, compared to its average volume of 9,332,802. Moderna has a 1-year low of $22.28 and a 1-year high of $163.47. The firm’s fifty day simple moving average is $62.34 and its 200-day simple moving average is $53.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18. The stock has a market capitalization of $62.69 billion, a P/E ratio of -19.72 and a beta of 0.91.
Moderna (NASDAQ:MRNA – Get Free Report) last released its earnings results on Friday, July 31st. The company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.06. The firm had revenue of $145.00 million during the quarter, compared to analyst estimates of $102.93 million. Moderna had a negative net margin of 141.43% and a negative return on equity of 28.30%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.13) EPS. On average, equities research analysts forecast that Moderna will post -6.2 EPS for the current fiscal year.
Insider Activity at Moderna
In other news, insider Shannon Thyme Klinger sold 3,471 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $173,550.00. Following the completion of the sale, the insider directly owned 67,468 shares of the company’s stock, valued at $3,373,400. This trade represents a 4.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Hoge sold 53,336 shares of Moderna stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $51.37, for a total value of $2,739,870.32. Following the sale, the president owned 1,483,848 shares of the company’s stock, valued at approximately $76,225,271.76. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 66,070 shares of company stock valued at $3,347,299. Insiders own 10.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in MRNA. MUFG Securities EMEA plc acquired a new stake in shares of Moderna in the second quarter worth $28,000. Allied Private Wealth LLC bought a new stake in Moderna in the 2nd quarter valued at $30,000. Canton Hathaway LLC bought a new stake in Moderna in the 1st quarter valued at $31,000. Archer Investment Corp acquired a new stake in Moderna in the 2nd quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its position in Moderna by 148.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the company’s stock worth $37,000 after purchasing an additional 801 shares during the last quarter. 75.33% of the stock is owned by institutional investors.
Moderna Company Profile
Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.
Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.
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