300,000 Shares in Moderna, Inc. (NASDAQ:MRNA) Purchased by Tang Capital Management LLC

Tang Capital Management LLC purchased a new position in Moderna, Inc. (NASDAQ:MRNA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 300,000 shares of the company's stock, valued at approximately $12,474,000. Tang Capital Management LLC owned 0.08% of Moderna at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tema Etfs LLC purchased a new position in Moderna during the fourth quarter worth $394,000. Toronto Dominion Bank lifted its holdings in Moderna by 75.2% in the 4th quarter. Toronto Dominion Bank now owns 230,320 shares of the company's stock valued at $9,577,000 after purchasing an additional 98,843 shares in the last quarter. Sender Co & Partners Inc. acquired a new position in shares of Moderna in the fourth quarter valued at approximately $530,000. Sherbrooke Park Advisers LLC acquired a new position in Moderna in the 4th quarter valued at $237,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Moderna during the fourth quarter worth $159,000. Hedge funds and other institutional investors own 75.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup assumed coverage on Moderna in a report on Thursday, March 13th. They set a "neutral" rating and a $40.00 target price for the company. The Goldman Sachs Group lowered shares of Moderna from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Royal Bank of Canada cut their target price on shares of Moderna from $32.00 to $28.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Barclays decreased their price target on shares of Moderna from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, Evercore ISI reduced their price objective on Moderna from $50.00 to $32.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $53.58.

Moderna Trading Down 3.9%

NASDAQ MRNA traded down $1.04 during trading on Friday, reaching $25.68. 3,732,928 shares of the company's stock were exchanged, compared to its average volume of 11,408,731. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $170.47. The company's fifty day simple moving average is $27.23 and its 200-day simple moving average is $34.81. The firm has a market capitalization of $9.93 billion, a PE ratio of -2.77 and a beta of 1.99.

Moderna (NASDAQ:MRNA - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.92) by $0.40. Moderna had a negative net margin of 110.04% and a negative return on equity of 28.74%. The company had revenue of $108.00 million during the quarter, compared to the consensus estimate of $130.35 million. During the same quarter in the prior year, the firm earned ($3.07) EPS. The company's revenue was down 35.3% compared to the same quarter last year. Equities analysts forecast that Moderna, Inc. will post -9.61 EPS for the current fiscal year.

Moderna Profile

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.