ABC Arbitrage SA Takes Position in Moderna, Inc. (NASDAQ:MRNA)

Key Points

• ABC Arbitrage SA acquired a new stake in Moderna, purchasing 54,198 shares valued at approximately $1.5 million during the first quarter.
• Institutional investors and hedge funds now own 75.33% of Moderna's stock, reflecting strong interest in the company.
• Recent research reports from analysts indicate a mixed sentiment, with a neutral rating from Citigroup and a price target ranging from $28.00 to $70.00.

ABC Arbitrage SA purchased a new stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 54,198 shares of the company's stock, valued at approximately $1,537,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Moderna by 7.4% during the fourth quarter. FMR LLC now owns 18,664,634 shares of the company's stock valued at $776,075,000 after acquiring an additional 1,282,469 shares during the last quarter. Theleme Partners LLP lifted its position in shares of Moderna by 1.0% during the fourth quarter. Theleme Partners LLP now owns 7,306,861 shares of the company's stock valued at $303,819,000 after purchasing an additional 72,028 shares in the last quarter. Invesco Ltd. raised its position in Moderna by 24.3% in the fourth quarter. Invesco Ltd. now owns 5,006,462 shares of the company's stock worth $208,169,000 after acquiring an additional 979,858 shares during the period. The Manufacturers Life Insurance Company raised its position in Moderna by 8.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,341,924 shares of the company's stock worth $138,957,000 after acquiring an additional 267,990 shares during the period. Finally, Northern Trust Corp raised its position in Moderna by 13.6% in the fourth quarter. Northern Trust Corp now owns 2,959,054 shares of the company's stock worth $123,037,000 after acquiring an additional 354,871 shares during the period. Institutional investors and hedge funds own 75.33% of the company's stock.

Wall Street Analyst Weigh In

MRNA has been the topic of several research reports. Citigroup initiated coverage on shares of Moderna in a research report on Friday. They issued a "neutral" rating and a $40.00 price target on the stock. Royal Bank Of Canada cut their price target on shares of Moderna from $32.00 to $28.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Cowen started coverage on shares of Moderna in a research note on Sunday, July 13th. They issued a "hold" rating for the company. Evercore ISI set a $32.00 price target on shares of Moderna in a research report on Friday. Finally, UBS Group decreased their price objective on shares of Moderna from $78.00 to $70.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Moderna currently has an average rating of "Hold" and an average target price of $45.61.

Moderna Trading Up 0.1%

NASDAQ MRNA opened at $27.64 on Tuesday. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of -3.67 and a beta of 1.83. Moderna, Inc. has a 12 month low of $23.15 and a 12 month high of $91.99. The company's 50 day moving average is $29.22 and its two-hundred day moving average is $30.24.

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

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