Bank of America Corp DE Invests $98.72 Million in Moderna, Inc. $MRNA

Key Points

• Bank of America initiated a $98.72 million position in Moderna during the second quarter, acquiring 1.41 million shares, or approximately 0.35% of the company.
• Other major investors also established or increased positions, including BlackRock, Theleme Partners, Capital World Investors and Merck. Institutional investors collectively own 75.33% of Moderna’s shares.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $76.72, while Moderna reported a quarterly loss that was slightly better than expected and revenue above estimates.

Bank of America Corp DE acquired a new position in Moderna, Inc. (NASDAQ:MRNA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,409,679 shares of the company's stock, valued at approximately $98,720,000. Bank of America Corp DE owned approximately 0.35% of Moderna as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Moderna during the second quarter worth about $2,142,877,000. Theleme Partners LLP acquired a new position in shares of Moderna during the 2nd quarter worth about $564,272,000. Capital World Investors bought a new stake in shares of Moderna in the 4th quarter valued at about $378,299,000. Merck & Co. Inc. bought a new stake in shares of Moderna in the 2nd quarter valued at about $161,642,545. Finally, First Trust Advisors LP lifted its stake in Moderna by 59.3% in the 1st quarter. First Trust Advisors LP now owns 2,392,693 shares of the company's stock valued at $121,549,000 after purchasing an additional 891,072 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company's stock.

Insider Activity

In related news, insider Shannon Klinger sold 3,471 shares of Moderna stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total value of $485,766.45. Following the completion of the sale, the insider owned 74,129 shares of the company's stock, valued at approximately $10,374,353.55. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 40,281 shares of Moderna stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $146.07, for a total transaction of $5,883,845.67. Following the completion of the sale, the president directly owned 1,562,029 shares of the company's stock, valued at approximately $228,165,576.03. The trade was a 2.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 118,882 shares of company stock worth $16,862,280 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. CLSA raised Moderna to an "outperform" rating in a research report on Friday, August 28th. Citigroup increased their price target on Moderna from $41.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. The Goldman Sachs Group lifted their price objective on shares of Moderna from $67.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. Piper Sandler reiterated an "overweight" rating on shares of Moderna in a report on Monday, August 3rd. Finally, Wolfe Research upgraded shares of Moderna from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, August 25th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $76.72.

Moderna Stock Performance

Shares of MRNA stock opened at $154.03 on Friday. The firm has a 50 day moving average of $99.71 and a 200-day moving average of $70.17. The company has a market cap of $61.50 billion, a price-to-earnings ratio of -19.28 and a beta of 1.10. The company has a quick ratio of 2.18, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. Moderna, Inc. has a 52 week low of $22.28 and a 52 week high of $176.66.

Moderna (NASDAQ:MRNA - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported ($1.97) earnings per share for the quarter, beating the consensus estimate 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 firm 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 business earned ($2.13) earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Moderna, Inc. will post -6.09 earnings per share for the current year.

Moderna News Roundup

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Investors continued to respond favorably to positive late-stage results for intismeran autogene, Moderna’s personalized mRNA cancer vaccine being developed with Merck’s Keytruda. The program is strengthening the view that oncology could become a major long-term growth engine and reduce the company’s dependence on COVID-19 products. Moderna cancer vaccine rally article
• Positive Sentiment: Analyst upgrades and higher price targets helped extend Moderna’s rally, with market coverage emphasizing the potential commercial value of its cancer-vaccine partnership. The stock’s recent recovery reflects a shift toward valuing Moderna on its broader pipeline rather than only on declining COVID-19 vaccine sales. Why Moderna shares are soaring
• Neutral Sentiment: Moderna’s shares have experienced highly volatile trading and a sharp one-month increase, with Thursday’s move reportedly occurring without a new company disclosure. The momentum may support investor interest, but the size of the rally also increases the risk of profit-taking and pullbacks. Moderna cancer vaccine trading momentum
• Negative Sentiment: Moderna President Stephen Hoge sold 40,294 shares for approximately $5.8 million, following another sale of a similar size. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, making them a limited bearish signal, but insider selling can still weigh on sentiment after a major run-up. Moderna insider selling report

Moderna Profile

Moderna, Inc is a biotechnology company that develops messenger RNA (mRNA) medicines and vaccines. Its platform is designed to provide cells with instructions to produce proteins that may help prevent or treat infectious diseases, cancer and other medical conditions.

The company's commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults. Moderna also maintains a pipeline of investigational programs in areas such as seasonal influenza, cytomegalovirus, oncology and rare diseases.

Founded in 2010 and headquartered in Cambridge, Massachusetts, Moderna serves markets in the United States and internationally through regulatory approvals, commercial partnerships and distribution arrangements.

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.