Norges Bank Buys Shares of 3,439,999 Moderna, Inc. $MRNA

Key Points

• Norges Bank bought 3,439,999 shares of Moderna in Q2 valued at about $94.91 million, raising its ownership to roughly 0.88% of the company.
• Analyst sentiment is weak — the consensus rating is "Reduce" with an average price target of $29.46 (2 Buys, 12 Holds, 5 Sells), and several firms have recently cut or adjusted targets.
• Moderna last reported EPS of -$0.51 (beating estimates) and revenue of $1.02 billion (down 45.4% YoY) with a negative net margin of 139.61%; the stock trades near $25 and the company has a market cap of about $9.84 billion.

Norges Bank purchased a new stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,439,999 shares of the company's stock, valued at approximately $94,910,000. Norges Bank owned approximately 0.88% of Moderna as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MRNA. S Bank Fund Management Ltd acquired a new stake in Moderna during the first quarter valued at $25,000. Rothschild Investment LLC raised its stake in shares of Moderna by 94.1% during the 2nd quarter. Rothschild Investment LLC now owns 920 shares of the company's stock worth $25,000 after purchasing an additional 446 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Moderna by 348.8% during the 2nd quarter. TD Private Client Wealth LLC now owns 956 shares of the company's stock valued at $26,000 after buying an additional 743 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Moderna in the 2nd quarter valued at approximately $26,000. Finally, SVB Wealth LLC acquired a new position in Moderna in the first quarter worth approximately $28,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MRNA has been the subject of a number of analyst reports. Berenberg Bank set a $28.00 target price on shares of Moderna in a research note on Monday, November 17th. Bank of America cut their price target on shares of Moderna from $24.00 to $21.00 and set an "underperform" rating on the stock in a report on Monday, November 10th. Piper Sandler reiterated an "overweight" rating on shares of Moderna in a report on Monday. Barclays lowered their target price on shares of Moderna from $31.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Friday, November 7th. Finally, Morgan Stanley raised their target price on Moderna from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $29.46.

Moderna Trading Up 4.7%

NASDAQ:MRNA opened at $25.18 on Thursday. The firm has a market capitalization of $9.84 billion, a PE ratio of -3.12 and a beta of 1.11. Moderna, Inc. has a 1 year low of $22.28 and a 1 year high of $48.92. The firm's fifty day simple moving average is $25.78 and its 200 day simple moving average is $26.98.

Moderna (NASDAQ:MRNA - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($2.15) by $1.64. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $893.29 million. Moderna had a negative net margin of 139.61% and a negative return on equity of 29.81%. The business's revenue was down 45.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, analysts anticipate that Moderna, Inc. will post -9.61 EPS for the current fiscal year.

About Moderna

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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