Moderna, Inc. (NASDAQ:MRNA – Get Free Report)’s share price was up 13.1% during trading on Wednesday. The stock traded as high as $258.72 and last traded at $258.38. Approximately 14,685,154 shares were traded during trading, an increase of 16% from the average daily volume of 12,624,256 shares. The stock had previously closed at $228.44.
Moderna News Roundup
Here are the key news stories impacting Moderna this week:
- Positive Sentiment: Moderna’s investigational mRNA-2808 showed four confirmed responses among 11 heavily pretreated multiple myeloma patients in early Phase 1/2 data. The results will be presented at the American Society of Hematology meeting in December, drawing attention to the company’s approach of using mRNA to prompt the body to produce three cancer-targeting agents. Article: Moderna Soars on Early Multiple Myeloma Data Article: Moderna Announces Oral Presentation of mRNA-2808 Clinical Data
- Positive Sentiment: The World Health Organization’s technical advisory group recommended advancing Moderna’s experimental Bundibugyo ebolavirus vaccine, mRNA-1469, to a Phase 2/3 efficacy study in the Democratic Republic of the Congo, following encouraging preclinical and Phase 1 results. Article: Moderna Advances Investigational Bundibugyo Ebolavirus Vaccine
- Neutral Sentiment: Both updates involve investigational products: the myeloma findings are preliminary, and the Ebola vaccine still needs to undergo a larger efficacy study. They may support optimism about Moderna’s pipeline, but do not establish eventual approval or commercial success.
Analyst Ratings Changes
Several research firms recently issued reports on MRNA. Berenberg Bank upped their price target on shares of Moderna from $45.00 to $100.00 and gave the company a “hold” rating in a report on Friday, September 11th. TD Cowen reissued a “buy” rating on shares of Moderna in a research report on Wednesday, October 21st. UBS Group restated a “neutral” rating on shares of Moderna in a research note on Tuesday, September 22nd. Citigroup reaffirmed a “sell” rating on shares of Moderna in a research report on Friday, October 23rd. Finally, CLSA upgraded Moderna to an “outperform” rating in a research note on Friday, August 28th. Six research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.10.
Get Our Latest Stock Report on Moderna
Moderna Stock Performance
The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.18 and a current ratio of 2.29. The stock has a market capitalization of $103.16 billion, a P/E ratio of -32.34 and a beta of 1.16. The stock has a 50 day moving average of $185.79 and a 200 day moving average of $88.36.
Insider Buying and Selling
In other Moderna news, President Stephen Hoge sold 39,145 shares of the business’s stock in a transaction dated 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 directly owned 1,636,565 shares of the company’s stock, valued at $361,222,626.80. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $134.49, for a total transaction of $4,685,093.64. Following the completion of the transaction, the chief financial officer owned 59,375 shares of the company’s stock, valued at approximately $7,985,343.75. This trade 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 a total of 197,251 shares of company stock valued at $33,875,904 in the last quarter. Company insiders own 10.80% of the company’s stock.
Hedge Funds Weigh In On Moderna
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRNA. Gryphon Financial Partners LLC acquired a new position in Moderna during the 3rd quarter worth $470,000. AlphaCore Capital LLC acquired a new position in shares of Moderna during the third quarter valued at $499,000. Retirement Systems of Alabama raised its stake in shares of Moderna by 5.0% during the third quarter. Retirement Systems of Alabama now owns 77,862 shares of the company’s stock valued at $14,994,000 after purchasing an additional 3,678 shares in the last quarter. Palacios Wealth Management LLC bought a new stake in shares of Moderna during the third quarter valued at about $236,000. Finally, Clear Wave Wealth Management LLC bought a new stake in shares of Moderna during the third quarter valued at about $398,000. 75.33% of the stock is owned by institutional investors.
Moderna Company 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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