1,701,675 Shares in Moderna, Inc. $MRNA Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.7 million Moderna shares worth approximately $119.2 million, giving it a 0.43% stake. Institutional investors collectively own 75.33% of the company.
• Analyst sentiment remains mixed: four analysts rate Moderna a Buy, 11 recommend Hold and four recommend Sell, producing an overall Hold rating with an average price target of $69.50.
• Moderna reported a quarterly loss of $1.97 per share, slightly better than expectations, while revenue of $145 million exceeded estimates and rose 2.1% year over year. Two insiders also sold shares under pre-arranged Rule 10b5-1 plans.

Bank of New York Mellon Corp acquired a new stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,701,675 shares of the company's stock, valued at approximately $119,168,000. Bank of New York Mellon Corp owned approximately 0.43% of Moderna at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Moderna by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 41,584,782 shares of the company's stock worth $1,226,335,000 after purchasing an additional 399,487 shares during the period. Capital World Investors purchased a new stake in shares of Moderna in the fourth quarter worth about $378,299,000. Invesco Ltd. boosted its position in shares of Moderna by 15.7% in the third quarter. Invesco Ltd. now owns 8,216,163 shares of the company's stock valued at $212,223,000 after acquiring an additional 1,115,131 shares during the period. Theleme Partners LLP boosted its position in shares of Moderna by 8.6% in the second quarter. Theleme Partners LLP now owns 7,868,810 shares of the company's stock valued at $217,100,000 after acquiring an additional 626,420 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Moderna by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,621,558 shares of the company's stock valued at $136,290,000 after acquiring an additional 309,126 shares in the last quarter. Institutional investors own 75.33% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wolfe Research reaffirmed an "underperform" rating and set a $25.00 target price on shares of Moderna in a report on Monday, July 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Moderna in a report on Friday, June 12th. Brookline Capital Markets restated a "buy" rating on shares of Moderna in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating on shares of Moderna in a report on Wednesday. Finally, Loop Capital set a $135.00 price objective on Moderna in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $69.50.

Insider Transactions at Moderna

In other news, President Stephen Hoge sold 53,336 shares of Moderna stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $51.37, for a total value of $2,739,870.32. Following the transaction, the president owned 1,483,848 shares in the company, valued at approximately $76,225,271.76. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Thyme Klinger sold 3,471 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $50.00, for a total value of $173,550.00. Following the completion of the sale, the insider directly owned 67,468 shares of the company's stock, valued at approximately $3,373,400. This trade represents a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.80% of the stock is currently owned by company insiders.

Moderna Stock Down 0.0%

Shares of NASDAQ MRNA opened at $145.07 on Monday. The stock has a market capitalization of $57.92 billion, a P/E ratio of -18.16 and a beta of 0.91. Moderna, Inc. has a one year low of $22.28 and a one year high of $176.66. The firm's 50 day simple moving average is $68.49 and its two-hundred day simple moving average is $56.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18.

Moderna (NASDAQ:MRNA - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported ($1.97) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.03) by $0.06. Moderna had a negative net margin of 141.43% and a negative return on equity of 28.30%. The company had revenue of $145.00 million during the quarter, compared to analysts' expectations of $102.93 million. During the same quarter in the prior year, the company earned ($2.13) EPS. The firm's revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Moderna, Inc. will post -6.18 EPS for the current fiscal year.

Moderna News Roundup

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Investors are assigning substantial commercial potential to the cancer program. Jefferies reportedly estimates as much as $54 billion in peak global sales and raised its price target to $170, while coverage highlighted the possibility that the trial could establish an oncology opportunity comparable to Merck’s Keytruda franchise. Jefferies sees $54 billion peak sales for Moderna cancer therapy
• Positive Sentiment: The favorable Phase 3 outcome has triggered analyst upgrades, including William Blair moving Moderna to Outperform and Bank of America raising its rating to Neutral. The stock also reached a new 12-month high amid renewed enthusiasm for mRNA-based cancer treatments. Moderna raised to Outperform at William Blair
• Neutral Sentiment: Trading has been exceptionally volatile for a third consecutive session. Analysts attribute the sharp swings partly to heavy short interest and a subsequent short squeeze, while options activity suggests elevated volatility may persist even without new clinical information. Moderna rallies as mRNA trading whipsaws
• Negative Sentiment: Valuation concerns remain significant after the recent surge. JPMorgan raised its price target to $77 but retained an Underweight rating, implying substantial downside from current levels. Commentary also cautioned that the clinical success does not eliminate development, regulatory, manufacturing, commercialization, and pipeline risks for Moderna or other mRNA companies. JPMorgan raises Moderna price target but keeps Underweight rating

About Moderna

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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