Insider Selling: Moderna (NASDAQ:MRNA) Director Sells $433,878.92 in Stock

Key Points

• Moderna director Noubar Afeyan sold 9,263 shares on May 21 at an average price of $46.84, totaling about $433,879. After the sale, he retained 3,924 shares, a 70.24% reduction in his ownership.
• Moderna’s stock was trading near $46.88 during Friday’s session, below its 50-day moving average of $51.00 but above its 200-day average of $41.55. The company also has a market cap of about $18.6 billion and continues to trade with negative earnings.
• Recent company news is mixed: Moderna appointed James Mock as CFO and reported encouraging five-year melanoma combo-therapy data with Merck, but it also faces FDA scrutiny over its flu vaccine, while analysts still rate the stock a consensus “Reduce.”

Moderna, Inc. (NASDAQ:MRNA - Get Free Report) Director Noubar Afeyan sold 9,263 shares of the firm's stock in a transaction dated 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 owned 3,924 shares of the company's stock, valued at $183,800.16. This trade represents a 70.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Moderna Price Performance

NASDAQ:MRNA traded down $0.38 during mid-day trading on Friday, hitting $46.88. 4,217,570 shares of the company's stock traded hands, compared to its average volume of 9,570,250. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.41. The firm's 50 day simple moving average is $51.00 and its 200 day simple moving average is $41.55. Moderna, Inc. has a 1 year low of $22.28 and a 1 year high of $59.55. The company has a market cap of $18.60 billion, a PE ratio of -5.75 and a beta of 1.05.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of ($3.02) by ($0.38). Moderna had a negative net margin of 143.55% and a negative return on equity of 26.64%. The business had revenue of $389.00 million for the quarter, compared to analysts' expectations of $236.37 million. During the same quarter last year, the business posted ($2.52) earnings per share. The business's revenue was up 260.2% compared to the same quarter last year. Sell-side analysts expect that Moderna, Inc. will post -6.76 EPS for the current year.

Moderna News Summary

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna named James Mock as its new chief financial officer, a move that should help stabilize leadership in a key finance role. James Mock Joins Moderna as Chief Financial Officer
• Positive Sentiment: Moderna and Merck reported five-year data showing their melanoma combination therapy reduced the risk of cancer spreading by 59%, supporting the company’s oncology pipeline. Moderna, Merck cancer combo cuts melanoma spread risk at five years
• Neutral Sentiment: Analyst sentiment remains cautious, with a reported average rating of “Reduce,” suggesting the market still has reservations about near-term execution. Moderna, Inc. Receives Average Rating of "Reduce" from Analysts
• Negative Sentiment: The FDA’s rare advisory panel review of Moderna’s mRNA flu vaccine introduces regulatory uncertainty for a program investors had been watching closely. USFDA to Convene Expert Panel Review for Moderna's mRNA Flu Vaccine
• Negative Sentiment: Related reports said Moderna is facing FDA scrutiny on its flu shot, and the added regulatory review has been a drag on the stock. FDA plans rare advisory hearing to debate Moderna’s flu shot

Institutional Investors Weigh In On Moderna

Several hedge funds have recently modified their holdings of MRNA. Capital World Investors acquired a new stake in shares of Moderna in the fourth quarter worth approximately $378,299,000. Alyeska Investment Group L.P. acquired a new stake in shares of Moderna in the fourth quarter worth approximately $95,209,000. Norges Bank acquired a new stake in shares of Moderna in the fourth quarter worth approximately $79,707,000. Invesco Ltd. boosted its position in shares of Moderna by 15.7% in the third quarter. Invesco Ltd. now owns 8,216,163 shares of the company's stock worth $212,223,000 after acquiring an additional 1,115,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Moderna by 123.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,788,951 shares of the company's stock worth $52,775,000 after acquiring an additional 987,312 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on MRNA. The Goldman Sachs Group lifted their price target on shares of Moderna from $43.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. TD Cowen reiterated a "hold" rating on shares of Moderna in a report on Thursday, January 29th. Evercore set a $35.00 price target on shares of Moderna in a report on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on shares of Moderna from $35.00 to $38.00 and gave the stock a "sector perform" rating in a report on Monday, May 4th. Finally, Piper Sandler lifted their price target on shares of Moderna from $63.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Moderna presently has a consensus rating of "Reduce" and a consensus target price of $35.73.

Moderna Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.