Tang Capital Management LLC Buys New Stake in Moderna, Inc. (NASDAQ:MRNA)

Tang Capital Management LLC bought a new stake in shares of Moderna, Inc. (NASDAQ:MRNA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 300,000 shares of the company’s stock, valued at approximately $12,474,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MRNA. Norges Bank acquired a new position in shares of Moderna during the 4th quarter valued at $163,833,000. FMR LLC lifted its holdings in shares of Moderna by 7.4% during the 4th quarter. FMR LLC now owns 18,664,634 shares of the company’s stock valued at $776,075,000 after acquiring an additional 1,282,469 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Moderna by 170.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,766,398 shares of the company’s stock valued at $73,447,000 after acquiring an additional 1,113,455 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Moderna by 24.3% during the 4th quarter. Invesco Ltd. now owns 5,006,462 shares of the company’s stock valued at $208,169,000 after acquiring an additional 979,858 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Moderna by 225.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,010,758 shares of the company’s stock worth $42,027,000 after buying an additional 700,458 shares during the period. Institutional investors and hedge funds own 75.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRNA has been the topic of several analyst reports. Citigroup initiated coverage on shares of Moderna in a research note on Thursday, March 13th. They set a “neutral” rating and a $40.00 price target on the stock. Barclays decreased their price target on shares of Moderna from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. William Blair reaffirmed a “market perform” rating on shares of Moderna in a report on Thursday, April 17th. Bank of America decreased their target price on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Finally, Evercore ISI decreased their target price on shares of Moderna from $50.00 to $32.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.95.

Moderna Trading Up 5.1%

Shares of NASDAQ MRNA opened at $24.86 on Friday. Moderna, Inc. has a 1-year low of $23.15 and a 1-year high of $170.47. The company has a market cap of $9.61 billion, a PE ratio of -2.68 and a beta of 1.99. The company has a 50-day moving average of $27.87 and a two-hundred day moving average of $35.44.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.92) by $0.40. Moderna had a negative net margin of 110.04% and a negative return on equity of 28.74%. The company had revenue of $108.00 million during the quarter, compared to the consensus estimate of $130.35 million. During the same period in the previous year, the firm posted ($3.07) earnings per share. The company’s revenue was down 35.3% on a year-over-year basis. As a group, equities research analysts forecast that Moderna, Inc. will post -9.61 earnings per share for the current year.

About Moderna

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.