Moderna, Inc. $MRNA Stock Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer reduced its Moderna stake by 35% in the third quarter, selling 32,845 shares and retaining 61,075 shares valued at approximately $11.8 million. Institutional investors and hedge funds collectively own 75.33% of MRNA.
• Moderna shares opened at $220.83, significantly above their 50-day moving average of $184.00 and 200-day average of $87.42. The company’s latest quarterly loss of $1.97 per share was slightly better than expectations, while revenue rose 2.1% year over year to $145 million.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $107.10. Moderna insiders sold 197,251 shares worth about $33.9 million over the past three months, including sales by the CFO and president under pre-arranged trading plans.

Bank Julius Baer & Co. Ltd Zurich reduced its stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,075 shares of the company's stock after selling 32,845 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Moderna were worth $11,761,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MRNA. Pinkerton Wealth LLC acquired a new stake in Moderna in the third quarter worth $623,000. Greenleaf Trust increased its position in shares of Moderna by 4.5% in the 3rd quarter. Greenleaf Trust now owns 5,187 shares of the company's stock valued at $999,000 after buying an additional 223 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Moderna by 187.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,590 shares of the company's stock valued at $11,475,000 after buying an additional 38,833 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Moderna during the 3rd quarter worth $23,201,000. Finally, ProShare Advisors LLC raised its stake in Moderna by 6.1% during the 3rd quarter. ProShare Advisors LLC now owns 74,898 shares of the company's stock worth $14,423,000 after buying an additional 4,277 shares during the period. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Moderna Stock Performance

MRNA stock opened at $220.83 on Tuesday. The stock has a 50-day moving average price of $184.00 and a two-hundred day moving average price of $87.42. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. Moderna, Inc. has a 1 year low of $22.28 and a 1 year high of $254.48.

Moderna (NASDAQ:MRNA - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported ($1.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $0.06. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $102.93 million. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted ($2.13) EPS. Analysts expect that Moderna, Inc. will post -6.11 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on MRNA shares. Singular Research upgraded Moderna to a "hold" rating in a report on Wednesday, September 23rd. TD Cowen restated a "buy" rating on shares of Moderna in a report on Wednesday, October 21st. CLSA upgraded Moderna to an "outperform" rating in a report on Friday, August 28th. Citigroup reaffirmed a "sell" rating on shares of Moderna in a research report on Friday, October 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Moderna in a report on Wednesday, September 9th. Six research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $107.10.

Insider Buying and Selling

In related news, CFO Jamey Mock sold 34,836 shares of Moderna stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $134.49, for a total value of $4,685,093.64. Following the sale, the chief financial officer owned 59,375 shares of the company's stock, valued at approximately $7,985,343.75. This trade represents a 36.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Stephen Hoge sold 40,294 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $144.13, for a total value of $5,807,574.22. Following the completion of the sale, the president owned 1,525,858 shares in the company, valued at $219,921,913.54. The trade was a 2.57% decrease in their position. 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 three months, insiders sold 197,251 shares of company stock worth $33,875,904. 10.80% of the stock is owned by corporate insiders.

Moderna Company Profile

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can stimulate immune responses or support the treatment of disease. The company's research programs span infectious diseases, immuno-oncology, rare diseases, autoimmune conditions and other therapeutic areas.

Moderna's commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults.

Want to see what other hedge funds are holding MRNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moderna, Inc. (NASDAQ:MRNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.