Comerica Bank Purchases 29,020 Shares of Moderna, Inc. $MRNA

Comerica Bank increased its position in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 79.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,431 shares of the company's stock after purchasing an additional 29,020 shares during the quarter. Comerica Bank's holdings in Moderna were worth $1,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MRNA. Ameriprise Financial Inc. grew its stake in Moderna by 10.8% in the fourth quarter. Ameriprise Financial Inc. now owns 235,280 shares of the company's stock worth $9,784,000 after purchasing an additional 23,007 shares in the last quarter. Cetera Investment Advisers grew its stake in Moderna by 8.3% in the fourth quarter. Cetera Investment Advisers now owns 40,783 shares of the company's stock worth $1,696,000 after purchasing an additional 3,121 shares in the last quarter. Cutter Capital Management LP bought a new stake in Moderna during the 4th quarter valued at $8,212,000. Crestline Management LP bought a new stake in Moderna during the 4th quarter valued at $796,000. Finally, Collar Capital Management LLC bought a new stake in Moderna during the 4th quarter valued at $898,000. Institutional investors own 75.33% of the company's stock.

Moderna Price Performance

Moderna stock opened at $24.19 on Wednesday. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of -3.21 and a beta of 1.93. Moderna, Inc. has a 1-year low of $23.15 and a 1-year high of $79.96. The business has a fifty day moving average price of $29.00 and a 200-day moving average price of $28.72.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported ($2.13) earnings per share for the quarter, topping analysts' consensus estimates of ($2.99) by $0.86. The firm had revenue of $142.00 million during the quarter, compared to analysts' expectations of $116.26 million. Moderna had a negative return on equity of 25.96% and a negative net margin of 94.31%.The business's quarterly revenue was down 41.1% on a year-over-year basis. During the same quarter last year, the firm earned ($3.33) EPS. Moderna has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on MRNA. Cowen began coverage on Moderna in a research report on Sunday, July 13th. They set a "hold" rating on the stock. Bank of America dropped their target price on Moderna from $26.00 to $25.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. set a $26.00 target price on Moderna in a research report on Friday, August 1st. Evercore ISI set a $32.00 target price on Moderna in a research report on Friday, August 1st. Finally, Barclays dropped their target price on Moderna from $40.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Moderna presently has an average rating of "Hold" and a consensus target price of $42.88.

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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