45,064 Shares in Moderna, Inc. (NASDAQ:MRNA) Bought by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. acquired a new position in Moderna, Inc. (NASDAQ:MRNA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,064 shares of the company's stock, valued at approximately $1,278,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Deutsche Bank AG raised its holdings in Moderna by 54.7% in the fourth quarter. Deutsche Bank AG now owns 1,894,075 shares of the company's stock worth $78,756,000 after purchasing an additional 669,614 shares in the last quarter. Tang Capital Management LLC acquired a new position in shares of Moderna during the fourth quarter valued at about $12,474,000. BDF Gestion acquired a new position in shares of Moderna during the first quarter valued at about $783,000. Geode Capital Management LLC increased its holdings in shares of Moderna by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock valued at $300,219,000 after acquiring an additional 171,774 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Moderna by 24.3% during the fourth quarter. Invesco Ltd. now owns 5,006,462 shares of the company's stock valued at $208,169,000 after acquiring an additional 979,858 shares in the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MRNA. Royal Bank Of Canada cut their price objective on shares of Moderna from $32.00 to $28.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of Moderna from $33.00 to $26.00 and set an "underweight" rating on the stock in a report on Thursday, May 22nd. UBS Group cut their price target on shares of Moderna from $78.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Citigroup started coverage on Moderna in a research report on Thursday, March 13th. They issued a "neutral" rating and a $40.00 price objective on the stock. Finally, Barclays lowered their price objective on Moderna from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $46.61.

Moderna Price Performance

Shares of NASDAQ:MRNA traded up $1.49 during trading on Thursday, reaching $34.28. The company had a trading volume of 11,679,141 shares, compared to its average volume of 8,847,185. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of -3.93 and a beta of 1.84. The stock's fifty day moving average price is $27.09 and its 200 day moving average price is $31.26. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $129.39.

Moderna (NASDAQ:MRNA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($2.52) earnings per share for the quarter, topping analysts' consensus estimates of ($2.92) by $0.40. Moderna had a negative return on equity of 28.69% and a negative net margin of 105.67%. The firm had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. During the same quarter in the prior year, the company posted ($3.07) earnings per share. Moderna's quarterly revenue was down 35.3% on a year-over-year basis. On average, equities analysts anticipate that Moderna, Inc. will post -9.61 EPS for the current fiscal year.

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.