Moderna, Inc. (NASDAQ:MRNA – Get Free Report) shares were up 12.3% on Monday . The stock traded as high as $176.86 and last traded at $172.94. 20,940,979 shares changed hands during trading, an increase of 79% from the average session volume of 11,711,742 shares. The stock had previously closed at $154.04.
Moderna News Roundup
Here are the key news stories impacting Moderna this week:
- Positive Sentiment: Personalized cancer vaccine remains the main catalyst. Moderna and Merck’s intismeran autogene, used with Keytruda in high-risk melanoma, produced positive Phase 3 results. Reports indicate the treatment reduced the risk of recurrence or death by 49%, while more detailed data are scheduled for presentation at the European Society for Medical Oncology meeting. Investors are also positioning ahead of an anticipated late-October data release that could further validate the therapy. MRNA Hits 52-Week High: How Melanoma Study Results Keep Rally Going
- Positive Sentiment: FDA approval of Moderna’s mRNA flu vaccine expands its commercial opportunity. Coverage describes the vaccine as the first approved mRNA flu shot in the U.S. and highlights its potential for faster development and updating than traditional vaccines. The approval supports Moderna’s effort to diversify revenue beyond COVID-19 products. mRNA flu vaccine wins FDA approval, promising a faster shot
- Positive Sentiment: Management is emphasizing a broader growth strategy. CEO Stéphane Bancel said Moderna “has never been” just a COVID-19 vaccine company, reinforcing investor focus on oncology, flu and other pipeline programs. Moderna’s presentation at Bernstein’s healthcare forum may provide further details on its strategy and development plans. Moderna CEO’s Surprising Comment Gives Clues About Where Drugmaker Is Going Next
- Neutral Sentiment: Moderna’s co-founder Bob Langer joining the scientific advisory board of AI-focused Cellular Intelligence links the company’s scientific network to AI drug discovery and Parkinson’s research, but the appointment does not represent a direct Moderna revenue event. Moderna Tied To AI Drug Push As Bob Langer Takes New Advisory Role
- Negative Sentiment: Expectations and valuation risk are increasing. The stock has risen roughly 510% over the past year, leaving investors dependent on successful cancer-vaccine launches and upcoming data to justify the rally. Any disappointing results, delays or commercialization challenges could trigger substantial volatility.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on MRNA shares. Jefferies Financial Group reissued a “hold” rating on shares of Moderna in a research note on Wednesday, August 19th. Citigroup raised their price objective on Moderna from $41.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. CLSA upgraded Moderna to an “outperform” rating in a research report on Friday, August 28th. UBS Group reissued a “neutral” rating on shares of Moderna in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Moderna in a research note on Friday, August 28th. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.72.
Moderna Stock Performance
The stock has a market cap of $72.71 billion, a price-to-earnings ratio of -22.79 and a beta of 1.10. The stock’s 50-day moving average is $104.13 and its 200-day moving average is $72.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18.
Moderna (NASDAQ:MRNA – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported ($1.97) EPS for the quarter, topping the consensus estimate 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%. Moderna’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.13) earnings per share. Analysts anticipate that Moderna, Inc. will post -6.09 EPS for the current fiscal year.
Insider Buying and Selling at Moderna
In other news, President Stephen Hoge sold 40,294 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $144.13, for a total value of $5,807,574.22. Following the completion of the sale, the president directly owned 1,525,858 shares in the company, valued at approximately $219,921,913.54. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jamey Mock sold 34,836 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $134.49, for a total transaction of $4,685,093.64. Following the sale, the chief financial officer directly owned 59,375 shares of the company’s stock, valued at approximately $7,985,343.75. This represents a 36.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,882 shares of company stock worth $16,862,280 in the last ninety days. 10.80% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in MRNA. TD Waterhouse Canada Inc. grew its holdings in shares of Moderna by 2.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,388 shares of the company’s stock worth $246,000 after purchasing an additional 85 shares during the last quarter. Assetmark Inc. lifted 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 during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Moderna by 1.9% during the 4th quarter. New Mexico Educational Retirement Board now owns 15,700 shares of the company’s stock valued at $463,000 after purchasing an additional 300 shares during the last quarter. IFP Advisors Inc boosted its position in Moderna by 5.4% in the fourth quarter. IFP Advisors Inc now owns 6,785 shares of the company’s stock valued at $200,000 after buying an additional 348 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its position in Moderna by 16.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,640 shares of the company’s stock valued at $78,000 after buying an additional 382 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.
About Moderna
Moderna, Inc is a biotechnology company that develops messenger RNA (mRNA) medicines and vaccines. Its platform is designed to provide cells with instructions to produce proteins that may help prevent or treat infectious diseases, cancer and other medical conditions.
The company’s commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults. Moderna also maintains a pipeline of investigational programs in areas such as seasonal influenza, cytomegalovirus, oncology and rare diseases.
Founded in 2010 and headquartered in Cambridge, Massachusetts, Moderna serves markets in the United States and internationally through regulatory approvals, commercial partnerships and distribution arrangements.
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