Canaccord Genuity Group Raises Moderna (NASDAQ:MRNA) Price Target to $106.00

Moderna (NASDAQ:MRNA) had its price objective lifted by Canaccord Genuity Group from $91.00 to $106.00 in a research report released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

MRNA has been the topic of a number of other reports. Needham & Company LLC reissued a hold rating on shares of Moderna in a report on Thursday. Royal Bank of Canada boosted their price target on shares of Moderna from $125.00 to $135.00 and gave the stock an outperform rating in a research report on Friday. William Blair restated a market perform rating on shares of Moderna in a research report on Monday, April 1st. Oppenheimer boosted their price target on shares of Moderna from $142.00 to $163.00 and gave the stock an outperform rating in a research report on Friday. Finally, Jefferies Financial Group restated a buy rating and issued a $125.00 price target on shares of Moderna in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $129.55.

Moderna Price Performance

Shares of NASDAQ MRNA traded down $2.87 during mid-day trading on Friday, hitting $122.13. 3,948,735 shares of the stock traded hands, compared to its average volume of 4,142,523. Moderna has a twelve month low of $62.55 and a twelve month high of $142.79. The company has a current ratio of 4.03, a quick ratio of 3.91 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $105.05 and a two-hundred day simple moving average of $94.48.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($3.07) EPS for the quarter, beating analysts’ consensus estimates of ($3.59) by $0.52. Moderna had a negative return on equity of 20.10% and a negative net margin of 115.82%. The firm had revenue of $167.00 million for the quarter, compared to analyst estimates of $93.26 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 91.0% on a year-over-year basis. Research analysts anticipate that Moderna will post -7.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Moderna news, President Stephen Hoge sold 2,388 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total transaction of $225,833.16. Following the transaction, the president now owns 1,515,898 shares in the company, valued at $143,358,473.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO James M. Mock sold 647 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total value of $61,186.79. Following the completion of the sale, the chief financial officer now owns 4,300 shares in the company, valued at approximately $406,651. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Hoge sold 2,388 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $225,833.16. Following the completion of the sale, the president now owns 1,515,898 shares of the company’s stock, valued at approximately $143,358,473.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,954 shares of company stock worth $14,822,576. Insiders own 15.20% of the company’s stock.

Institutional Trading of Moderna

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of Moderna by 6,528.9% in the 4th quarter. International Assets Investment Management LLC now owns 387,656 shares of the company’s stock worth $38,552,000 after acquiring an additional 381,808 shares in the last quarter. abrdn plc grew its position in Moderna by 477.5% during the fourth quarter. abrdn plc now owns 483,574 shares of the company’s stock valued at $48,091,000 after buying an additional 399,843 shares during the period. Van ECK Associates Corp grew its position in Moderna by 19.2% during the fourth quarter. Van ECK Associates Corp now owns 270,774 shares of the company’s stock valued at $26,929,000 after buying an additional 43,646 shares during the period. Invesco Ltd. grew its position in Moderna by 19.8% during the third quarter. Invesco Ltd. now owns 3,126,028 shares of the company’s stock valued at $322,887,000 after buying an additional 517,683 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD grew its position in Moderna by 10.5% during the third quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 32,188 shares of the company’s stock valued at $3,252,000 after buying an additional 3,052 shares during the period. Institutional investors own 75.33% of the company’s stock.

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.