Algert Global LLC Purchases 37,402 Shares of Moderna, Inc. $MRNA

Key Points

• Algert Global increased its Moderna stake by 15.8% in the second quarter, purchasing 37,402 shares and bringing its holdings to 274,820 shares valued at approximately $19.25 million. Institutional investors collectively own 75.33% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $74.31, despite several analysts raising their targets. Moderna shares opened at $138.89 and have traded between $22.28 and $176.66 over the past year.
• Moderna reported a quarterly loss of $1.97 per share, slightly better than estimates, while revenue of $145 million exceeded expectations. Insiders also sold shares under pre-arranged Rule 10b5-1 plans, including President Stephen Hoge’s sale of 53,336 shares.

Algert Global LLC grew its holdings in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 15.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,820 shares of the company's stock after acquiring an additional 37,402 shares during the period. Algert Global LLC owned 0.07% of Moderna worth $19,246,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Moderna in the 2nd quarter valued at about $2,142,877,000. Capital World Investors acquired a new stake in Moderna during the fourth quarter worth approximately $378,299,000. Theleme Partners LLP acquired a new stake in Moderna during the second quarter worth approximately $564,272,000. Alyeska Investment Group L.P. bought a new stake in Moderna in the fourth quarter worth approximately $95,209,000. Finally, Norges Bank bought a new stake in Moderna in the fourth quarter worth approximately $79,707,000. 75.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MRNA shares. Piper Sandler reissued an "overweight" rating on shares of Moderna in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a "hold" rating on shares of Moderna in a research report on Wednesday, August 19th. Citigroup lifted their price objective on shares of Moderna from $41.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Barclays boosted their target price on shares of Moderna from $48.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Morgan Stanley increased their target price on shares of Moderna from $39.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 20th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.31.

Trending Headlines about Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna and Merck’s personalized mRNA cancer vaccine, intismeran autogene, delivered a positive Phase 3 result in melanoma when used with Keytruda. The result marks an important validation of Moderna’s mRNA platform and could support a substantial long-term oncology opportunity. Should You Buy Moderna Stock Following Its Cancer Breakthrough?
• Positive Sentiment: The cancer-vaccine success has strengthened investor confidence in Moderna’s pipeline and helped drive a major re-rating of MRNA. Management believes intismeran autogene could have significant long-term potential, while Moderna’s recently approved mRNA flu vaccine provides another commercial opportunity. Moderna Is Betting Big on Its Cancer Vaccine
• Neutral Sentiment: Analysts and investors are now focused on the next steps: regulatory submissions, durability of the clinical benefit, manufacturing capacity, pricing, and adoption. The Phase 3 result is significant, but commercialization and revenue generation remain several steps away. Why Moderna’s and Merck’s Cancer Vaccine Is a Breakthrough for mRNA
• Negative Sentiment: After an approximately 392% year-to-date surge, traders locked in gains across biotech and pharmaceutical stocks. With no fresh clinical or regulatory announcement to extend the advance, Moderna and related names cooled. Myriad Genetics and Moderna Shares Plummet, What You Need To Know
• Negative Sentiment: Investors remain concerned that personalized cancer vaccines may be difficult to manufacture at scale, less broadly applicable, and less lucrative than current enthusiasm suggests. Moderna also faces pipeline execution risks, competition, and intensifying Chinese investment in mRNA biotechnology. Moderna’s mRNA Cancer Vaccine Marks a Major Leap in Personalized Oncology

Insider Buying and Selling

In other news, insider Shannon Thyme Klinger sold 3,471 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $173,550.00. Following the transaction, the insider directly owned 67,468 shares of the company's stock, valued at $3,373,400. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, President Stephen Hoge sold 53,336 shares of the stock in a transaction on 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 completion of the transaction, the president owned 1,483,848 shares in the company, valued at approximately $76,225,271.76. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.80% of the stock is owned by corporate insiders.

Moderna Stock Performance

Shares of Moderna stock opened at $138.89 on Tuesday. The business has a 50-day simple moving average of $70.22 and a 200 day simple moving average of $56.87. Moderna, Inc. has a one year low of $22.28 and a one year high of $176.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18. The firm has a market capitalization of $55.45 billion, a price-to-earnings ratio of -17.38 and a beta of 0.91.

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

Moderna Profile

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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