Moderna, Inc. (NASDAQ:MRNA) Shares Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. substantially increased its stake in Moderna by 152,061.1%, acquiring 617,774 shares worth approximately $17.5 million during the first quarter.
• Moderna reported a loss of ($2.52) earnings per share for the latest quarter, beating analyst expectations, yet its revenue decreased 35.3% year-over-year, amounting to $108 million.
• Several analysts downgraded their price targets for Moderna, with JPMorgan adjusting its target from $33 to $26 and Evercore ISI decreasing it from $50 to $32.

Federated Hermes Inc. lifted its stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 152,061.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,774 shares of the company's stock after buying an additional 617,368 shares during the quarter. Federated Hermes Inc. owned approximately 0.16% of Moderna worth $17,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG grew its position in shares of Moderna by 54.7% during the fourth quarter. Deutsche Bank AG now owns 1,894,075 shares of the company's stock worth $78,756,000 after buying an additional 669,614 shares in the last quarter. Tang Capital Management LLC acquired a new position in Moderna in the fourth quarter worth $12,474,000. Bank of New York Mellon Corp boosted its holdings in Moderna by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 1,918,248 shares of the company's stock worth $54,382,000 after purchasing an additional 34,034 shares during the period. Wealthfront Advisers LLC boosted its holdings in Moderna by 143.3% in the first quarter. Wealthfront Advisers LLC now owns 31,018 shares of the company's stock worth $879,000 after purchasing an additional 18,268 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Moderna by 73.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,772 shares of the company's stock worth $1,156,000 after purchasing an additional 17,268 shares during the period. Institutional investors and hedge funds own 75.33% of the company's stock.

Moderna Stock Down 8.1%

Shares of NASDAQ MRNA opened at $29.56 on Friday. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $122.45. The firm's 50-day simple moving average is $29.20 and its 200 day simple moving average is $30.34. The stock has a market cap of $11.43 billion, a P/E ratio of -3.39 and a beta of 1.84.

Moderna (NASDAQ:MRNA - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($2.52) earnings per share for the quarter, beating analysts' consensus estimates of ($2.92) by $0.40. Moderna had a negative net margin of 105.67% and a negative return on equity of 28.69%. The business had revenue of $108.00 million for the quarter, compared to analysts' expectations of $130.35 million. During the same period in the previous year, the business earned ($3.07) earnings per share. The company's revenue was down 35.3% on a year-over-year basis. On average, sell-side analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MRNA shares. JPMorgan Chase & Co. decreased their price objective on shares of Moderna from $33.00 to $26.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd. Morgan Stanley decreased their price objective on shares of Moderna from $39.00 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Evercore ISI decreased their price objective on shares of Moderna from $50.00 to $32.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Bank of America decreased their price objective on shares of Moderna from $26.00 to $25.00 and set an "underperform" rating for the company in a report on Tuesday, July 22nd. Finally, Cowen assumed coverage on shares of Moderna in a report on Sunday, July 13th. They issued a "hold" rating for the company. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.11.

Moderna Company Profile

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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