Concurrent Investment Advisors LLC Purchases New Shares in Moderna, Inc. $MRNA

Key Points

• Concurrent Investment Advisors LLC has purchased 9,284 shares of Moderna, Inc. valued at approximately $256,000, marking a continued interest from institutional investors in the company.
• Analysts currently rate Moderna's stock as "Hold" on average, with an average target price of $39.93, while some firms have lowered their price target for the stock.
• Moderna reported a quarterly loss of ($2.13) earnings per share, despite exceeding revenue expectations, highlighting ongoing challenges in profitability.

Concurrent Investment Advisors LLC purchased a new stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,284 shares of the company's stock, valued at approximately $256,000.

Other institutional investors have also recently added to or reduced their stakes in the company. S Bank Fund Management Ltd purchased a new position in Moderna in the 1st quarter valued at $25,000. TD Private Client Wealth LLC lifted its holdings in Moderna by 348.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 956 shares of the company's stock valued at $26,000 after purchasing an additional 743 shares in the last quarter. SVB Wealth LLC purchased a new position in Moderna in the 1st quarter valued at $28,000. CX Institutional lifted its holdings in Moderna by 1,129.8% in the 2nd quarter. CX Institutional now owns 1,033 shares of the company's stock valued at $29,000 after purchasing an additional 949 shares in the last quarter. Finally, Costello Asset Management INC purchased a new position in Moderna in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 75.33% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Moderna in a report on Monday. Leerink Partners decreased their price objective on Moderna from $18.00 to $15.00 and set an "underperform" rating on the stock in a report on Friday, August 22nd. Citigroup assumed coverage on Moderna in a report on Friday, August 1st. They issued a "neutral" rating and a $40.00 price objective on the stock. Cowen assumed coverage on Moderna in a report on Sunday, July 13th. They issued a "hold" rating on the stock. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Moderna in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $39.93.

Moderna Trading Up 4.7%

Shares of MRNA opened at $27.24 on Tuesday. The firm has a market cap of $10.64 billion, a P/E ratio of -3.62 and a beta of 2.01. Moderna, Inc. has a 12-month low of $23.15 and a 12-month high of $57.69. The company's 50-day moving average price is $25.94 and its 200 day moving average price is $27.11.

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

Moderna Profile

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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