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Envestnet Asset Management Inc. Reduces Holdings in Moderna, Inc. (NASDAQ:MRNA)

Moderna logo with Medical background

Key Points

  • Envestnet Asset Management Inc. reduced its stake in Moderna by 40.3%, selling 12,212 shares to end the quarter with 18,102 shares valued at $513,000.
  • Several institutional investors, including FMR LLC and Invesco Ltd., have recently increased their positions in Moderna during the fourth quarter.
  • Moderna's stock has recently fallen 0.6% and is trading at $27.47, with a up-and-down price range over the past year from $23.15 to $91.99.
  • Five stocks we like better than Moderna.

Envestnet Asset Management Inc. decreased its holdings in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 40.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,102 shares of the company's stock after selling 12,212 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Moderna were worth $513,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in Moderna by 54.7% during the 4th quarter. Deutsche Bank AG now owns 1,894,075 shares of the company's stock valued at $78,756,000 after purchasing an additional 669,614 shares during the last quarter. Tang Capital Management LLC bought a new position in Moderna during the 4th quarter worth $12,474,000. Bank of New York Mellon Corp increased its position in Moderna by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,918,248 shares of the company's stock worth $54,382,000 after buying an additional 34,034 shares during the period. BDF Gestion bought a new position in Moderna during the 1st quarter worth $783,000. Finally, Diversified Trust Co bought a new position in Moderna during the 1st quarter worth $387,000. Institutional investors and hedge funds own 75.33% of the company's stock.

Moderna Stock Down 2.8%

MRNA stock traded down $0.76 during midday trading on Wednesday, hitting $26.71. The company's stock had a trading volume of 10,141,515 shares, compared to its average volume of 8,376,456. The stock's 50-day moving average price is $29.28 and its 200 day moving average price is $30.15. Moderna, Inc. has a 1 year low of $23.15 and a 1 year high of $91.99. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of -3.55 and a beta of 1.83.

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 the consensus estimate of ($2.99) by $0.86. Moderna had a negative return on equity of 25.96% and a negative net margin of 94.31%. The business 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 firm earned ($3.33) earnings per share. The business's revenue was down 41.1% on a year-over-year basis. As a group, equities analysts forecast that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. William Blair restated a "market perform" rating on shares of Moderna in a research report on Monday, June 2nd. Morgan Stanley reissued an "equal weight" rating and set a $32.00 price target on shares of Moderna in a research note on Friday, August 1st. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Moderna in a research note on Sunday, July 13th. Cowen started coverage on Moderna in a research note on Sunday, July 13th. They issued a "hold" rating on the stock. Finally, Royal Bank Of Canada cut their price objective on Moderna from $32.00 to $28.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Moderna has an average rating of "Hold" and a consensus target price of $45.61.

Get Our Latest Research Report on Moderna

Moderna Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Moderna (NASDAQ:MRNA)

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