Wealthquest Corp Takes $1.04 Million Position in Moderna, Inc. (NASDAQ:MRNA)

Key Points

• Wealthquest Corp has acquired a new position in Moderna, Inc., purchasing 36,587 shares valued at approximately $1.04 million in the first quarter of 2023.
• Moderna's recent quarterly earnings reported an EPS of -$2.52, surpassing expectations, though the company still faces significant financial challenges with a net margin of -105.67%.
• Several institutional investors have increased their stakes in Moderna, contributing to an overall institutional ownership of 75.33% of the company's stock.

Wealthquest Corp purchased a new stake in shares of Moderna, Inc. (NASDAQ:MRNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 36,587 shares of the company's stock, valued at approximately $1,037,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MRNA. Sentry Investment Management LLC bought a new position in Moderna in the first quarter worth approximately $31,000. Deseret Mutual Benefit Administrators raised its stake in Moderna by 53.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,128 shares of the company's stock worth $32,000 after buying an additional 392 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Moderna by 51.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company's stock worth $42,000 after buying an additional 343 shares in the last quarter. Vega Investment Solutions bought a new position in Moderna in the fourth quarter worth approximately $45,000. Finally, Versant Capital Management Inc raised its stake in Moderna by 408.9% in the first quarter. Versant Capital Management Inc now owns 1,593 shares of the company's stock worth $45,000 after buying an additional 1,280 shares in the last quarter. Institutional investors own 75.33% of the company's stock.

Moderna Stock Performance

NASDAQ:MRNA opened at $29.56 on Friday. Moderna, Inc. has a one year low of $23.15 and a one year high of $122.45. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of -3.39 and a beta of 1.84. The firm's fifty day moving average is $29.20 and its two-hundred day moving average is $30.34.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($2.52) EPS for the quarter, beating 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 company had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. During the same period in the prior year, the company earned ($3.07) earnings per share. The firm's revenue was down 35.3% on a year-over-year basis. As a group, equities research analysts predict that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRNA has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their price objective on shares of Moderna from $32.00 to $28.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Morgan Stanley reduced their price objective on shares of Moderna from $39.00 to $32.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Bank of America reduced their price objective on shares of Moderna from $26.00 to $25.00 and set an "underperform" rating for the company in a research note on Tuesday, July 22nd. Barclays reaffirmed an "equal weight" rating on shares of Moderna in a report on Sunday, July 13th. Finally, UBS Group cut their price target on shares of Moderna from $78.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $46.11.

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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