Mirae Asset Global Investments Co. Ltd. purchased a new position in Moderna, Inc. (NASDAQ:MRNA – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 120,480 shares of the company’s stock, valued at approximately $23,201,000.
A number of other large investors also recently bought and sold shares of MRNA. BlackRock Inc. bought a new stake in Moderna during the second quarter worth about $2,142,877,000. Theleme Partners LLP bought a new position in shares of Moderna during the second quarter valued at approximately $564,272,000. Wellington Management Group LLP increased its stake in shares of Moderna by 4.4% during the second quarter. Wellington Management Group LLP now owns 2,461,574 shares of the company’s stock valued at $172,384,000 after purchasing an additional 103,977 shares in the last quarter. Merck & Co. Inc. bought a new position in shares of Moderna during the second quarter valued at approximately $161,642,545. Finally, Bamco Inc. NY bought a new position in shares of Moderna during the second quarter valued at approximately $139,317,000. 75.33% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
MRNA has been the subject of several recent research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $130.00 target price on shares of Moderna in a report on Wednesday, August 19th. Brookline Capital Markets restated a “buy” rating on shares of Moderna in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Moderna in a research report on Wednesday, September 9th. Citigroup reiterated a “sell” rating on shares of Moderna in a research note on Friday, October 23rd. Finally, Evercore lifted their price objective on Moderna from $50.00 to $80.00 in a research note on Thursday, October 8th. Six equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.10.
Read Our Latest Research Report on MRNA
Moderna Stock Performance
Shares of NASDAQ MRNA opened at $220.83 on Tuesday. The stock has a market cap of $88.16 billion, a PE ratio of -27.64 and a beta of 1.09. Moderna, Inc. has a 1 year low of $22.28 and a 1 year high of $254.48. The firm has a fifty day moving average price of $184.00 and a 200-day moving average price of $87.42. 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 earnings results on Friday, July 31st. The company reported ($1.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $0.06. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $102.93 million. During the same quarter last year, the company earned ($2.13) EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Moderna, Inc. will post -6.11 earnings per share for the current fiscal year.
Insider Buying and Selling at Moderna
In related news, President Stephen Hoge sold 39,145 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $220.72, for a total transaction of $8,640,084.40. Following the completion of the transaction, the president owned 1,636,565 shares in the company, valued at approximately $361,222,626.80. This represents a 2.34% decrease in their ownership of the stock. 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 James M. Mock sold 34,836 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer directly owned 59,375 shares of the company’s stock, valued at $7,985,343.75. The trade was a 36.98% 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. Insiders sold a total of 197,251 shares of company stock valued at $33,875,904 in the last three months. 10.80% of the stock is currently owned by corporate insiders.
Moderna Profile
Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can stimulate immune responses or support the treatment of disease. The company’s research programs span infectious diseases, immuno-oncology, rare diseases, autoimmune conditions and other therapeutic areas.
Moderna’s commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults.
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