California Public Employees Retirement System Reduces Stock Position in Moderna, Inc. (NASDAQ:MRNA)

California Public Employees Retirement System decreased its stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,759 shares of the company's stock after selling 483,267 shares during the period. California Public Employees Retirement System owned about 0.10% of Moderna worth $16,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MRNA. Wilmington Savings Fund Society FSB grew its holdings in shares of Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company's stock worth $33,000 after acquiring an additional 587 shares during the period. Venturi Wealth Management LLC boosted its position in Moderna by 286.2% in the fourth quarter. Venturi Wealth Management LLC now owns 896 shares of the company's stock worth $37,000 after purchasing an additional 664 shares during the last quarter. Compass Planning Associates Inc bought a new stake in shares of Moderna during the 4th quarter valued at about $37,000. Crowley Wealth Management Inc. bought a new position in shares of Moderna in the 4th quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Moderna by 58.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company's stock worth $44,000 after buying an additional 389 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Moderna Price Performance

Shares of NASDAQ:MRNA traded up $2.03 during trading on Wednesday, hitting $26.67. The company had a trading volume of 13,082,139 shares, compared to its average volume of 7,113,632. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of -2.87 and a beta of 2.23. The company has a fifty day simple moving average of $31.96 and a two-hundred day simple moving average of $41.54. Moderna, Inc. has a one year low of $23.15 and a one year high of $170.47.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Leerink Partners dropped their price target on shares of Moderna from $31.00 to $27.00 and set an "underweight" rating on the stock in a research note on Thursday, January 16th. Morgan Stanley lowered their target price on Moderna from $39.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Berenberg Bank upped their price target on Moderna from $33.00 to $42.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on Moderna from $40.00 to $33.00 and set an "underweight" rating on the stock in a research report on Friday, March 21st. Finally, Barclays lowered shares of Moderna from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $111.00 to $45.00 in a report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.70.

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.