Rakuten Securities Inc. purchased a new position in shares of Moderna, Inc. (NASDAQ:MRNA – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,543 shares of the company’s stock, valued at approximately $248,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allied Private Wealth LLC purchased a new stake in shares of Moderna during the second quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in shares of Moderna during the first quarter worth $31,000. Frazier Financial Advisors LLC purchased a new position in shares of Moderna in the second quarter valued at $45,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Moderna in the second quarter valued at $49,000. Finally, Assetmark Inc. grew its holdings in Moderna by 35.1% during the 1st quarter. Assetmark Inc. now owns 801 shares of the company’s stock valued at $41,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.
Moderna Stock Up 8.8%
MRNA stock opened at $145.07 on Friday. Moderna, Inc. has a twelve month low of $22.28 and a twelve month high of $176.66. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $57.92 billion, a P/E ratio of -18.16 and a beta of 0.91. The firm has a 50 day simple moving average of $68.49 and a 200-day simple moving average of $56.10.
Key Stories Impacting Moderna
Here are the key news stories impacting Moderna this week:
- Positive Sentiment: Investors are assigning substantial commercial potential to the cancer program. Jefferies reportedly estimates as much as $54 billion in peak global sales and raised its price target to $170, while coverage highlighted the possibility that the trial could establish an oncology opportunity comparable to Merck’s Keytruda franchise. Jefferies sees $54 billion peak sales for Moderna cancer therapy
- Positive Sentiment: The favorable Phase 3 outcome has triggered analyst upgrades, including William Blair moving Moderna to Outperform and Bank of America raising its rating to Neutral. The stock also reached a new 12-month high amid renewed enthusiasm for mRNA-based cancer treatments. Moderna raised to Outperform at William Blair
- Neutral Sentiment: Trading has been exceptionally volatile for a third consecutive session. Analysts attribute the sharp swings partly to heavy short interest and a subsequent short squeeze, while options activity suggests elevated volatility may persist even without new clinical information. Moderna rallies as mRNA trading whipsaws
- Negative Sentiment: Valuation concerns remain significant after the recent surge. JPMorgan raised its price target to $77 but retained an Underweight rating, implying substantial downside from current levels. Commentary also cautioned that the clinical success does not eliminate development, regulatory, manufacturing, commercialization, and pipeline risks for Moderna or other mRNA companies. JPMorgan raises Moderna price target but keeps Underweight rating
Insider Buying and Selling at Moderna
In other news, President Stephen Hoge sold 53,336 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $51.37, for a total transaction of $2,739,870.32. Following the transaction, the president owned 1,483,848 shares of the company’s stock, valued at approximately $76,225,271.76. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Thyme Klinger sold 3,471 shares of the 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 transaction, the insider directly owned 67,468 shares in the company, valued at $3,373,400. The trade was a 4.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. 10.80% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms recently issued reports on MRNA. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $130.00 price target on shares of Moderna in a research note on Wednesday. William Blair raised shares of Moderna from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Bank of America upgraded Moderna from an “underperform” rating to a “neutral” rating in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating on shares of Moderna in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Moderna from $40.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.50.
Read Our Latest Stock Analysis on MRNA
About Moderna
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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