Moderna, Inc. (NASDAQ:MRNA – Get Free Report)’s stock price traded down 6.5% during trading on Thursday. The company traded as low as $237.65 and last traded at $241.46. 11,834,699 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 12,625,952 shares. The stock had previously closed at $258.38.
Key Stories Impacting Moderna
Here are the key news stories impacting Moderna this week:
- Positive Sentiment: Early data for experimental multiple-myeloma treatment mRNA-2808 showed confirmed responses in four of 11 heavily pretreated patients. The results helped drive recent interest in Moderna’s cancer pipeline, though the treatment remains early-stage. Article: Moderna Soars 8% on Early Multiple Myeloma Data
- Positive Sentiment: The WHO’s technical advisory group recommended Moderna’s investigational Bundibugyo Ebola vaccine, mRNA-1469, for a Phase 2/3 efficacy study in the Democratic Republic of the Congo, following encouraging early data. This advances a potential new use of the company’s mRNA platform, but the vaccine is still investigational. Article: Moderna Advances Investigational Bundibugyo Ebolavirus Vaccine
- Neutral Sentiment: Friday’s Q3 earnings report is a key near-term catalyst. Investors are expected to watch financial results and whether Moderna has the resources to support its pipeline; the previews do not provide results in advance. Article: Moderna Soared 8% on Cancer Data. Friday’s Report Shows Whether It Can Afford the Pipeline
- Neutral Sentiment: Moderna said initial Phase 1/2 data for mRNA-2808 will be presented at the American Society of Hematology meeting in December, offering a future update on the multiple-myeloma program. Article: Moderna Announces Oral Presentation of mRNA-2808 Clinical Data
- Negative Sentiment: Bearish commentary argues the stock’s rally has outpaced near-term fundamentals, citing ongoing cash burn, limited near-term product launches, and commercial and manufacturing hurdles. That leaves earnings and pipeline-funding disclosures especially important to investors. Article: Moderna Earnings Preview: The Melanoma Breakthrough Is Real, But $221 Is Way Too Much
Analyst Upgrades and Downgrades
Several research firms have weighed in on MRNA. Morgan Stanley raised their price target on Moderna from $89.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Moderna in a report on Friday, August 28th. They set a “hold” rating and a $125.00 price objective on the stock. CLSA upgraded Moderna to an “outperform” rating in a research report on Friday, August 28th. TD Cowen reissued a “buy” rating on shares of Moderna in a report on Wednesday, October 21st. Finally, Bradesco Corretora raised shares of Moderna to an “outperform” rating in a report on Friday, August 28th. Six research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.10.
Read Our Latest Stock Analysis on MRNA
Moderna Price Performance
The firm’s 50-day moving average price is $187.78 and its 200-day moving average price is $89.46. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $96.40 billion, a PE ratio of -30.22 and a beta of 1.16.
Insider Buying and Selling
In related news, President Stephen Hoge sold 40,294 shares of Moderna stock in a transaction dated 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 transaction, the president owned 1,525,858 shares in the company, valued at approximately $219,921,913.54. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 that occurred on Thursday, September 10th. The stock was sold at an average price of $134.49, for a total value of $4,685,093.64. Following the sale, the chief financial officer directly owned 59,375 shares in the company, valued at $7,985,343.75. The trade was a 36.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 197,251 shares of company stock worth $33,875,904. Corporate 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 modified their holdings of MRNA. Merck & Co. Inc. purchased a new stake in Moderna during the 2nd quarter valued at $161,642,545. Bank of New York Mellon Corp purchased a new position in Moderna during the second quarter worth $119,168,000. Contravisory Investment Management Inc. boosted its stake in Moderna by 1,387.6% during the second quarter. Contravisory Investment Management Inc. now owns 24,218 shares of the company’s stock worth $1,696,000 after buying an additional 22,590 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Moderna by 2,042.6% during the third quarter. TD Waterhouse Canada Inc. now owns 72,591 shares of the company’s stock worth $13,722,000 after buying an additional 69,203 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Moderna during the second quarter valued at $1,013,000. Hedge funds and other institutional investors own 75.33% of the company’s stock.
About Moderna
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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