Lazard Asset Management LLC Sells 11,516 Shares of Moderna, Inc. (NASDAQ:MRNA)

Lazard Asset Management LLC decreased its position in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 81.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,669 shares of the company's stock after selling 11,516 shares during the period. Lazard Asset Management LLC's holdings in Moderna were worth $110,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in Moderna by 7.4% during the fourth quarter. FMR LLC now owns 18,664,634 shares of the company's stock valued at $776,075,000 after purchasing an additional 1,282,469 shares during the last quarter. Geode Capital Management LLC boosted its position in Moderna by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock valued at $300,219,000 after purchasing an additional 171,774 shares during the last quarter. Invesco Ltd. boosted its position in Moderna by 24.3% during the fourth quarter. Invesco Ltd. now owns 5,006,462 shares of the company's stock valued at $208,169,000 after purchasing an additional 979,858 shares during the last quarter. Norges Bank acquired a new stake in Moderna during the fourth quarter valued at $163,833,000. Finally, The Manufacturers Life Insurance Company boosted its position in Moderna by 8.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,341,924 shares of the company's stock valued at $138,957,000 after purchasing an additional 267,990 shares during the last quarter. Institutional investors and hedge funds own 75.33% of the company's stock.

Moderna Stock Performance

Shares of Moderna stock traded up $0.93 during trading on Thursday, reaching $26.98. The company's stock had a trading volume of 3,454,777 shares, compared to its average volume of 11,368,782. The business's fifty day moving average price is $26.70 and its 200-day moving average price is $34.14. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of -2.91 and a beta of 1.99. Moderna, Inc. has a one year low of $23.15 and a one year high of $158.82.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($2.52) EPS for the quarter, topping analysts' consensus estimates of ($2.92) by $0.40. The business had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. Moderna had a negative return on equity of 28.74% and a negative net margin of 110.04%. The firm's revenue for the quarter was down 35.3% on a year-over-year basis. During the same period in the previous year, the company posted ($3.07) earnings per share. Sell-side analysts anticipate that Moderna, Inc. will post -9.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Moderna from $39.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Evercore ISI reduced their price target on Moderna from $50.00 to $32.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. William Blair reaffirmed a "market perform" rating on shares of Moderna in a research report on Thursday, April 17th. Royal Bank of Canada reduced their price target on Moderna from $32.00 to $28.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group cut Moderna from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $99.00 to $51.00 in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Moderna has a consensus rating of "Hold" and a consensus price target of $53.58.

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.