OVERSEA CHINESE BANKING Corp Ltd Buys 17,268 Shares of Moderna, Inc. (NASDAQ:MRNA)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Moderna, Inc. by 73.5% in the first quarter, owning 40,772 shares worth approximately $1.16 million as per its latest SEC filing.
• Moderna reported a negative EPS of ($2.13) for the latest quarter, beating the consensus estimate, but revenue was down by 41.1% compared to the same quarter last year.
• Institutional investors hold 75.33% of Moderna's stock, reflecting strong interest from hedge funds and other financial institutions.

OVERSEA CHINESE BANKING Corp Ltd grew its position in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 73.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,772 shares of the company's stock after acquiring an additional 17,268 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Moderna were worth $1,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sentry Investment Management LLC acquired a new stake in Moderna in the 1st quarter worth about $31,000. Deseret Mutual Benefit Administrators increased 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 purchasing an additional 392 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in Moderna by 51.2% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company's stock valued at $42,000 after acquiring an additional 343 shares during the period. Vega Investment Solutions acquired a new position in Moderna in the 4th quarter valued at approximately $45,000. Finally, Versant Capital Management Inc increased its position in Moderna by 408.9% in the 1st quarter. Versant Capital Management Inc now owns 1,593 shares of the company's stock valued at $45,000 after acquiring an additional 1,280 shares during the period. Institutional investors own 75.33% of the company's stock.

Moderna Trading Down 0.4%

Moderna stock traded down $0.10 during midday trading on Tuesday, hitting $27.54. The stock had a trading volume of 1,286,366 shares, compared to its average volume of 10,876,730. The firm's fifty day moving average is $29.22 and its two-hundred day moving average is $30.24. The company has a market capitalization of $10.65 billion, a PE ratio of -3.66 and a beta of 1.83. Moderna, Inc. has a 52-week low of $23.15 and a 52-week high of $91.99.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MRNA shares. Cowen started coverage on shares of Moderna in a research report on Sunday, July 13th. They set a "hold" rating for the company. Evercore ISI set a $32.00 price target on shares of Moderna in a report on Friday. William Blair reaffirmed a "market perform" rating on shares of Moderna in a research note on Monday, June 2nd. Barclays dropped their price target on shares of Moderna from $40.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Moderna in a research report on Sunday, July 13th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $45.61.

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.