Himension Capital Singapore PTE. LTD. Cuts Position in Moderna, Inc. $MRNA

Key Points

• Himension Capital Singapore PTE. LTD. cut its Moderna stake by 38.8% in the first quarter, selling 22,390 shares and leaving it with 35,338 shares valued at about $1.8 million.
• Several other institutional investors made mixed moves, while hedge funds and other institutions still hold a large majority of Moderna shares at 75.33%.
• Analysts remain cautious overall: Moderna has a consensus rating of "Reduce" with a $40 price target, even as some firms recently raised their targets and the stock opened at $59.66.

Himension Capital Singapore PTE. LTD. reduced its position in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 38.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,338 shares of the company's stock after selling 22,390 shares during the period. Himension Capital Singapore PTE. LTD.'s holdings in Moderna were worth $1,795,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in Moderna by 41.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 69,883 shares of the company's stock worth $3,550,000 after purchasing an additional 20,422 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Moderna in the first quarter valued at approximately $504,000. AlTi Global Inc. acquired a new position in Moderna during the first quarter valued at approximately $214,000. Meeder Advisory Services Inc. grew its stake in Moderna by 12.5% during the first quarter. Meeder Advisory Services Inc. now owns 8,118 shares of the company's stock worth $412,000 after buying an additional 904 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Moderna by 19.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,132,167 shares of the company's stock worth $108,228,000 after buying an additional 343,216 shares during the period. Hedge funds and other institutional investors own 75.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Moderna in a research note on Friday, June 12th. Barclays upped their price target on shares of Moderna from $25.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 2nd. Royal Bank Of Canada increased their price target on Moderna from $38.00 to $45.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. The Goldman Sachs Group raised their price objective on Moderna from $49.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, UBS Group restated a "neutral" rating on shares of Moderna in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $40.00.

Insider Activity

In other Moderna news, insider Shannon Thyme Klinger sold 3,471 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $50.00, for a total value of $173,550.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available at 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 53,336 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $51.37, for a total value of $2,739,870.32. Following the sale, the president owned 1,483,848 shares of the company's stock, valued at $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. Over the last quarter, insiders sold 125,088 shares of company stock worth $6,193,713. Corporate insiders own 10.80% of the company's stock.

Moderna Trading Up 0.3%

MRNA opened at $59.66 on Wednesday. The firm has a market capitalization of $23.67 billion, a P/E ratio of -7.32 and a beta of 0.94. The firm's 50 day moving average is $58.13 and its 200-day moving average is $51.36. Moderna, Inc. has a 52-week low of $22.28 and a 52-week high of $85.60. The company has a quick ratio of 2.35, a current ratio of 2.41 and a debt-to-equity ratio of 0.08.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported ($3.40) EPS for the quarter, missing analysts' consensus estimates of ($3.02) by ($0.38). The firm had revenue of $389.00 million for the quarter, compared to analyst estimates of $236.37 million. Moderna had a negative return on equity of 26.64% and a negative net margin of 143.55%.The company's revenue for the quarter was up 260.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.52) earnings per share. Analysts expect that Moderna, Inc. will post -6.41 EPS for the current fiscal year.

About Moderna

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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