Barclays Has Lowered Expectations for Moderna (NASDAQ:MRNA) Stock Price

Key Points

• Barclays has reduced Moderna's price target from $40.00 to $31.00, while maintaining an "equal weight" rating, indicating potential upside of 13.18% from its previous close.
• Analysts have mixed ratings on Moderna, with four sell ratings, seventeen hold ratings, three buy ratings, and one strong buy rating, leading to an average rating of "Hold" and a consensus price target of $45.61.
• Moderna's stock performance shows a twelve-month range between a low of $23.15 and a high of $91.99, with significant trading activity, reaching $27.39 on the latest trading day.

Moderna (NASDAQ:MRNA - Get Free Report) had its price objective decreased by stock analysts at Barclays from $40.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price indicates a potential upside of 13.18% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company restated an "equal weight" rating on shares of Moderna in a research note on Sunday, July 13th. Cowen began coverage on Moderna in a research note on Sunday, July 13th. They set a "hold" rating on the stock. Citigroup began coverage on Moderna in a research note on Friday. They set a "neutral" rating and a $40.00 price objective on the stock. Bank of America reduced their price objective on Moderna from $26.00 to $25.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 22nd. Finally, Evercore ISI set a $32.00 price objective on Moderna in a research note on Friday. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $45.61.

Moderna Stock Performance

MRNA traded down $0.22 on Monday, reaching $27.39. 4,445,795 shares of the company's stock were exchanged, compared to its average volume of 10,919,244. The company's 50 day moving average is $29.22 and its 200-day moving average is $30.24. The company has a market cap of $10.59 billion, a price-to-earnings ratio of -3.64 and a beta of 1.83. Moderna has a twelve month low of $23.15 and a twelve month high of $91.99.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported ($2.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.99) by $0.86. The firm had revenue of $142.00 million during the quarter, compared to the consensus estimate of $116.26 million. Moderna had a negative net margin of 94.31% and a negative return on equity of 25.96%. The company's revenue was down 41.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.33) EPS. Sell-side analysts forecast that Moderna will post -9.61 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Moderna by 0.6% in the 2nd quarter. Amalgamated Bank now owns 65,458 shares of the company's stock valued at $1,806,000 after purchasing an additional 408 shares during the period. Assetmark Inc. boosted its position in shares of Moderna by 137.7% in the 2nd quarter. Assetmark Inc. now owns 1,298 shares of the company's stock valued at $36,000 after purchasing an additional 752 shares during the period. Spire Wealth Management boosted its position in shares of Moderna by 77.9% in the 2nd quarter. Spire Wealth Management now owns 9,639 shares of the company's stock valued at $266,000 after purchasing an additional 4,222 shares during the period. New York Life Investment Management LLC boosted its position in shares of Moderna by 59.0% in the 2nd quarter. New York Life Investment Management LLC now owns 84,425 shares of the company's stock valued at $2,329,000 after purchasing an additional 31,327 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in shares of Moderna by 4.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 93,662 shares of the company's stock valued at $2,584,000 after purchasing an additional 4,166 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.

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