Moors & Cabot Inc. Sells 36,136 Shares of Moderna, Inc. (NASDAQ:MRNA)

Key Points

• Moors & Cabot Inc. reduced its stake in Moderna by 64.0% in the first quarter, now holding 20,287 shares valued at $575,000.
• Moderna reported ($2.13) earnings per share for the recent quarter, surpassing estimates and showing a 41.1% decline in revenue year-over-year.
• Currently, approximately 75.33% of Moderna's stock is owned by institutional investors, highlighting significant institutional interest.

Moors & Cabot Inc. reduced its stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,287 shares of the company's stock after selling 36,136 shares during the period. Moors & Cabot Inc.'s holdings in Moderna were worth $575,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sentry Investment Management LLC acquired a new position in shares of Moderna during the first quarter valued at $31,000. Deseret Mutual Benefit Administrators boosted its position in Moderna by 53.3% during the 1st 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. boosted its position in Moderna by 51.2% during the 4th 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 acquired a new stake in shares of Moderna during the 4th quarter valued at about $45,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Moderna by 408.9% during the 1st quarter. Versant Capital Management Inc now owns 1,593 shares of the company's stock valued at $45,000 after buying an additional 1,280 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Moderna Price Performance

Shares of MRNA stock traded down $0.17 during trading hours on Tuesday, reaching $27.47. 6,150,202 shares of the company were exchanged, compared to its average volume of 9,033,059. Moderna, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $91.99. The stock's fifty day moving average is $29.27 and its two-hundred day moving average is $30.17. The company has a market cap of $10.69 billion, a price-to-earnings ratio of -3.65 and a beta of 1.83.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported ($2.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.99) by $0.86. The business had revenue of $142.00 million during the quarter, compared to analysts' expectations of $116.26 million. Moderna had a negative return on equity of 25.96% and a negative net margin of 94.31%. Moderna's revenue for the quarter was down 41.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($3.33) EPS. On average, research analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on MRNA shares. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Moderna in a research report on Sunday, July 13th. JPMorgan Chase & Co. set a $26.00 price target on Moderna in a report on Friday. William Blair reissued a "market perform" rating on shares of Moderna in a research note on Monday, June 2nd. Evercore ISI set a $32.00 price target on Moderna in a research report on Friday. Finally, Citigroup initiated coverage on Moderna in a research report on Friday. They issued a "neutral" rating and a $40.00 target price on the stock. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $45.61.

Moderna 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.