Pictet Asset Management Holding SA Has $32.79 Million Stock Holdings in Moderna, Inc. $MRNA

Key Points

• Pictet Asset Management Holding SA cut its Moderna stake by 8.4% in the first quarter, selling 61,977 shares and ending with 676,117 shares valued at about $32.79 million.
• Moderna’s stock was trading near its 52-week high, opening at $70.03 and up 0.5%, with the company carrying a market cap of about $27.79 billion.
• The company’s latest earnings showed better-than-expected revenue but a wider-than-expected loss, with EPS of -$3.40 versus an अनुमानed -$3.02 and revenue of $389 million. Analysts remain cautious overall, with a consensus rating of “Reduce” and a target price of $37.13.

Pictet Asset Management Holding SA reduced its stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 676,117 shares of the company's stock after selling 61,977 shares during the period. Pictet Asset Management Holding SA owned 0.17% of Moderna worth $32,790,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new stake in shares of Moderna in the 2nd quarter valued at about $28,000. Flagship Harbor Advisors LLC bought a new position in Moderna in the fourth quarter worth approximately $31,000. Ameriflex Group Inc. boosted its holdings in Moderna by 3,775.0% in the third quarter. Ameriflex Group Inc. now owns 1,240 shares of the company's stock worth $32,000 after acquiring an additional 1,208 shares in the last quarter. Cromwell Holdings LLC grew its stake in Moderna by 39.7% in the fourth quarter. Cromwell Holdings LLC now owns 1,200 shares of the company's stock valued at $35,000 after acquiring an additional 341 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Moderna by 148.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the company's stock valued at $37,000 after acquiring an additional 801 shares during the period. Institutional investors and hedge funds own 75.33% of the company's stock.

Moderna Stock Up 0.5%

MRNA stock opened at $70.03 on Wednesday. Moderna, Inc. has a twelve month low of $22.28 and a twelve month high of $73.28. The company has a quick ratio of 2.35, a current ratio of 2.41 and a debt-to-equity ratio of 0.08. The stock's 50 day moving average is $52.15 and its 200-day moving average is $47.21. The firm has a market capitalization of $27.79 billion, a PE ratio of -8.59 and a beta of 1.05.

Moderna (NASDAQ:MRNA - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.02) by ($0.38). Moderna had a negative return on equity of 26.64% and a negative net margin of 143.55%.The company had revenue of $389.00 million for the quarter, compared to the consensus estimate of $236.37 million. During the same quarter last year, the company posted ($2.52) EPS. The company's quarterly revenue was up 260.2% compared to the same quarter last year. Sell-side analysts expect that Moderna, Inc. will post -6.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRNA. Bank of America upped their target price on Moderna from $32.00 to $34.00 and gave the stock an "underperform" rating in a research report on Monday, June 8th. Royal Bank Of Canada lifted their price target on shares of Moderna from $35.00 to $38.00 and gave the company a "sector perform" rating in a research report on Monday, May 4th. Jefferies Financial Group restated a "hold" rating on shares of Moderna in a research note on Thursday, June 18th. Morgan Stanley set a $33.00 price objective on shares of Moderna in a report on Friday, May 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Moderna from $43.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Moderna currently has an average rating of "Reduce" and a consensus target price of $37.13.

Insider Buying and Selling

In other Moderna news, Director Noubar Afeyan sold 9,263 shares of Moderna stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $46.84, for a total transaction of $433,878.92. Following the transaction, the director directly owned 3,924 shares of the company's stock, valued at $183,800.16. The trade was a 70.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shannon Thyme Klinger sold 3,471 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $173,550.00. Following the completion of the sale, the insider owned 67,468 shares of the company's stock, valued at approximately $3,373,400. The trade was a 4.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 125,088 shares of company stock valued at $6,193,713 in the last 90 days. Insiders own 10.80% of the company's stock.

Moderna Profile

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.

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