Moderna, Inc. $MRNA Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services increased its Moderna stake by 41.3% in the first quarter, bringing its holdings to 69,883 shares valued at approximately $3.55 million. Institutional investors collectively own 75.33% of Moderna’s stock.
• Analyst sentiment remains cautious: Moderna has a consensus rating of “Reduce” from MarketBeat, with an average price target of $40.00, despite some analysts raising their targets.
• Moderna reported a first-quarter loss of $3.40 per share, missing estimates, while revenue rose 260.2% year over year to $389 million. Shares opened at $55.81, within a 52-week range of $22.28 to $85.60.

PNC Financial Services Group Inc. increased its position in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 41.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,883 shares of the company's stock after buying an additional 20,422 shares during the period. PNC Financial Services Group Inc.'s holdings in Moderna were worth $3,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors acquired a new stake in Moderna in the fourth quarter valued at $378,299,000. Alyeska Investment Group L.P. bought a new position in Moderna in the 4th quarter worth approximately $95,209,000. Norges Bank acquired a new stake in Moderna in the fourth quarter worth approximately $79,707,000. Invesco Ltd. grew its stake in shares of Moderna by 15.7% in the 3rd quarter. Invesco Ltd. now owns 8,216,163 shares of the company's stock worth $212,223,000 after purchasing an additional 1,115,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Moderna by 123.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,788,951 shares of the company's stock valued at $52,775,000 after acquiring an additional 987,312 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MRNA shares. Wolfe Research reiterated an "underperform" rating and issued a $25.00 target price on shares of Moderna in a report on Monday, July 20th. Barclays raised their price target on shares of Moderna from $25.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Moderna in a research report on Friday, June 12th. The Goldman Sachs Group raised their price target on Moderna from $49.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Finally, UBS Group restated a "neutral" rating on shares of Moderna in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, Moderna presently has a consensus rating of "Reduce" and an average target price of $40.00.

Moderna Price Performance

Shares of Moderna stock opened at $55.81 on Wednesday. The firm's 50-day moving average price is $58.87 and its two-hundred day moving average price is $52.19. Moderna, Inc. has a 1-year low of $22.28 and a 1-year high of $85.60. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of -6.85 and a beta of 0.94. The company has a current ratio of 2.41, a quick ratio of 2.35 and a debt-to-equity ratio of 0.08.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported ($3.40) EPS for the quarter, missing analysts' consensus estimates of ($3.02) by ($0.38). The business had revenue of $389.00 million during 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%.Moderna's revenue for the quarter was up 260.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.52) EPS. On average, equities analysts predict that Moderna, Inc. will post -6.41 earnings per share for the current fiscal year.

Insider Transactions at Moderna

In other Moderna news, Director Abbas Hussain sold 5,682 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $46.63, for a total value of $264,951.66. Following the transaction, the director directly owned 12,066 shares in the company, valued at approximately $562,637.58. This trade represents a 32.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Thyme Klinger sold 3,471 shares of Moderna stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $50.00, for a total value of $173,550.00. Following the completion of the sale, the insider owned 67,468 shares of the company's stock, valued at approximately $3,373,400. The trade was a 4.89% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 125,088 shares of company stock worth $6,193,713 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Moderna Company Profile

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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