Zurcher Kantonalbank Zurich Cantonalbank Has $5.45 Million Position in Moderna, Inc. (NASDAQ:MRNA)

Key Points

• Zurcher Kantonalbank has reduced its stake in Moderna, Inc. by 41.1%, holding 192,306 shares worth approximately $5.45 million as of its latest SEC filing.
• Moderna's recent quarterly earnings report showed a wider loss than analysts expected, with an earnings per share of ($2.52) compared to the consensus estimate of (2.92).
• Institutional investors collectively own 75.33% of Moderna's stock, indicating significant interest from major financial entities.

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 41.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 192,306 shares of the company's stock after selling 134,443 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Moderna were worth $5,452,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Moderna by 2.7% during the 4th quarter. American Century Companies Inc. now owns 44,619 shares of the company's stock worth $1,855,000 after buying an additional 1,187 shares during the period. Allstate Corp acquired a new position in Moderna during the fourth quarter valued at approximately $396,000. CIBC Private Wealth Group LLC grew its holdings in Moderna by 73.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 7,046 shares of the company's stock valued at $304,000 after purchasing an additional 2,979 shares during the period. Alliancebernstein L.P. increased its stake in Moderna by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 331,439 shares of the company's stock valued at $13,781,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Moderna by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock worth $300,219,000 after purchasing an additional 171,774 shares during the period. Institutional investors and hedge funds own 75.33% of the company's stock.

Moderna Stock Performance

NASDAQ:MRNA opened at $29.56 on Friday. Moderna, Inc. has a 52-week low of $23.15 and a 52-week high of $122.45. The company has a market cap of $11.43 billion, a P/E ratio of -3.39 and a beta of 1.84. The stock's 50-day simple moving average is $29.20 and its 200 day simple 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) earnings per share for the quarter, topping the consensus estimate of ($2.92) by $0.40. Moderna had a negative return on equity of 28.69% and a negative net margin of 105.67%. The firm had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. During the same quarter in the previous year, the firm earned ($3.07) EPS. The business's quarterly revenue was down 35.3% on a year-over-year basis. As a group, equities analysts predict that Moderna, Inc. will post -9.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Cowen assumed coverage on shares of Moderna in a report on Sunday, July 13th. They issued a "hold" rating for the company. William Blair reiterated a "market perform" rating on shares of Moderna in a report on Monday, June 2nd. Bank of America lowered their price target on Moderna from $26.00 to $25.00 and set an "underperform" rating for the company in a report on Tuesday, July 22nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Moderna in a research report on Sunday, July 13th. Finally, Evercore ISI decreased their price objective on Moderna from $50.00 to $32.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Four 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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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