Murphy Pohlad Asset Management LLC acquired a new stake in shares of Moderna, Inc. (NASDAQ:MRNA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,824 shares of the company’s stock, valued at approximately $268,000.
A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Moderna in the second quarter worth approximately $2,142,877,000. California State Teachers Retirement System grew its holdings in shares of Moderna by 6,698.1% in the second quarter. California State Teachers Retirement System now owns 27,681,318 shares of the company’s stock worth $1,938,523,000 after acquiring an additional 27,274,128 shares during the period. Capital World Investors bought a new position in Moderna in the fourth quarter valued at about $378,299,000. Invesco Ltd. grew its stake in shares of Moderna by 15.7% during the 3rd quarter. Invesco Ltd. now owns 8,216,163 shares of the company’s stock valued at $212,223,000 after purchasing an additional 1,115,131 shares during the period. Finally, Theleme Partners LLP purchased a new stake in shares of Moderna during the 2nd quarter valued at about $564,272,000. Hedge funds and other institutional investors own 75.33% of the company’s stock.
Moderna Price Performance
NASDAQ MRNA traded down $5.22 on Tuesday, reaching $140.33. The company had a trading volume of 10,268,119 shares, compared to its average volume of 11,637,390. The company has a quick ratio of 2.18, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $56.03 billion, a PE ratio of -17.56 and a beta of 1.10. The firm’s 50 day moving average price is $87.26 and its 200 day moving average price is $64.32. Moderna, Inc. has a 12 month low of $22.28 and a 12 month high of $176.66.
Analysts Set New Price Targets
A number of equities analysts recently commented on MRNA shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Moderna in a report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of Moderna from $40.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, August 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $130.00 target price on shares of Moderna in a report on Wednesday, August 19th. Piper Sandler reissued an “overweight” rating on shares of Moderna in a report on Monday, August 3rd. Finally, Bradesco Corretora upgraded Moderna to an “outperform” rating in a research report on Friday, August 28th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Moderna presently has an average rating of “Hold” and a consensus target price of $76.72.
Read Our Latest Report on Moderna
Insider Activity at Moderna
In related news, insider Shannon Klinger sold 3,471 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total value of $485,766.45. Following the completion of the transaction, the insider directly owned 74,129 shares of the company’s stock, valued at approximately $10,374,353.55. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 on Monday, June 15th. The stock was sold at an average price of $51.37, for a total transaction of $2,739,870.32. Following the completion of the transaction, the president directly owned 1,483,848 shares of the company’s stock, valued at $76,225,271.76. The trade was a 3.47% decrease in their ownership of the stock. 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. 10.80% of the stock is owned by corporate insiders.
Moderna 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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