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Pacer Advisors Inc. Cuts Stock Position in Moderna, Inc. (NASDAQ:MRNA)

Moderna logo with Medical background

Pacer Advisors Inc. trimmed its position in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 35.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,303 shares of the company's stock after selling 9,473 shares during the period. Pacer Advisors Inc.'s holdings in Moderna were worth $491,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MRNA. FMR LLC lifted its holdings in Moderna by 7.4% in the fourth quarter. FMR LLC now owns 18,664,634 shares of the company's stock valued at $776,075,000 after acquiring an additional 1,282,469 shares during the period. Theleme Partners LLP increased its holdings in shares of Moderna by 1.0% in the 4th quarter. Theleme Partners LLP now owns 7,306,861 shares of the company's stock valued at $303,819,000 after purchasing an additional 72,028 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Moderna by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock valued at $300,219,000 after purchasing an additional 171,774 shares during the period. Invesco Ltd. lifted its stake in shares of Moderna by 24.3% in the fourth quarter. Invesco Ltd. now owns 5,006,462 shares of the company's stock valued at $208,169,000 after purchasing an additional 979,858 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Moderna by 8.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,341,924 shares of the company's stock worth $138,957,000 after buying an additional 267,990 shares in the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Moderna from $32.00 to $28.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Moderna in a research note on Sunday, July 13th. Barclays reiterated an "equal weight" rating on shares of Moderna in a research report on Sunday, July 13th. Evercore ISI lowered their target price on Moderna from $50.00 to $32.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on Moderna from $33.00 to $26.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Moderna presently has an average rating of "Hold" and a consensus target price of $46.11.

Read Our Latest Research Report on Moderna

Moderna Price Performance

MRNA opened at $29.56 on Friday. Moderna, Inc. has a 12 month low of $23.15 and a 12 month high of $122.45. The business has a 50-day moving average of $29.20 and a two-hundred day moving average of $30.34. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of -3.39 and a beta of 1.84.

Moderna (NASDAQ:MRNA - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned ($3.07) earnings per share. The company's quarterly revenue was down 35.3% on a year-over-year basis. Equities research analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current year.

About Moderna

(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.

Further Reading

Institutional Ownership by Quarter for Moderna (NASDAQ:MRNA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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