PNC Financial Services Group Inc. boosted its holdings in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 39.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,887 shares of the company's stock after acquiring an additional 10,761 shares during the period. PNC Financial Services Group Inc.'s holdings in Moderna were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Sentry Investment Management LLC bought a new position in Moderna during the first quarter worth about $31,000. Deseret Mutual Benefit Administrators increased its position in Moderna by 53.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,128 shares of the company's stock worth $32,000 after acquiring an additional 392 shares during the period. Itau Unibanco Holding S.A. increased its position in Moderna by 51.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company's stock worth $42,000 after acquiring an additional 343 shares during the period. Vega Investment Solutions bought a new position in Moderna during the fourth quarter worth about $45,000. Finally, Versant Capital Management Inc increased its position in Moderna by 408.9% during the first quarter. Versant Capital Management Inc now owns 1,593 shares of the company's stock worth $45,000 after acquiring an additional 1,280 shares during the period. Institutional investors own 75.33% of the company's stock.
Moderna Price Performance
Shares of Moderna stock traded up $1.23 during midday trading on Wednesday, reaching $26.89. The company had a trading volume of 8,647,828 shares, compared to its average volume of 10,839,467. The stock has a fifty day moving average price of $29.19 and a 200 day moving average price of $29.75. The firm has a market cap of $10.46 billion, a PE ratio of -3.57 and a beta of 1.83. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $91.99.
Moderna (NASDAQ:MRNA - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported ($2.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.99) by $0.86. Moderna had a negative return on equity of 25.96% and a negative net margin of 94.31%. The firm had revenue of $142.00 million for the quarter, compared to analyst estimates of $116.26 million. During the same period in the previous year, the firm earned ($3.33) earnings per share. The company's revenue was down 41.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Moderna, Inc. will post -9.61 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MRNA. Citigroup began coverage on Moderna in a research report on Friday, August 1st. They issued a "neutral" rating and a $40.00 price target on the stock. UBS Group decreased their target price on Moderna from $78.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Evercore ISI set a $32.00 target price on Moderna in a research report on Friday, August 1st. Bank of America decreased their target price on Moderna from $26.00 to $25.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 22nd. Finally, Cowen assumed coverage on Moderna in a research report on Sunday, July 13th. They issued a "hold" rating on the stock. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $43.59.
Check Out Our Latest Research Report on MRNA
Moderna Company Profile
(
Free Report)
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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