JPMorgan Chase & Co. Cuts Moderna (NASDAQ:MRNA) Price Target to $26.00

Moderna (NASDAQ:MRNA - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $33.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 3.06% from the stock's previous close.

MRNA has been the subject of several other research reports. Evercore ISI reduced their price objective on shares of Moderna from $50.00 to $32.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Barclays cut their price target on shares of Moderna from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group downgraded shares of Moderna from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $99.00 to $51.00 in a research note on Wednesday, January 29th. UBS Group cut their target price on Moderna from $78.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, William Blair reissued a "market perform" rating on shares of Moderna in a report on Thursday, April 17th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Moderna currently has an average rating of "Hold" and a consensus target price of $53.58.

Moderna Stock Up 2.1%

Moderna stock traded up $0.56 during midday trading on Thursday, reaching $26.82. The company's stock had a trading volume of 9,078,315 shares, compared to its average volume of 11,421,612. The company has a market cap of $10.37 billion, a P/E ratio of -2.89 and a beta of 1.99. The business has a 50-day simple moving average of $26.94 and a 200-day simple moving average of $34.25. Moderna has a fifty-two week low of $23.15 and a fifty-two week high of $164.73.

Moderna (NASDAQ:MRNA - Get Free Report) last issued its 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. The business had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. Moderna had a negative return on equity of 28.74% and a negative net margin of 110.04%. The business's quarterly revenue was down 35.3% on a year-over-year basis. During the same quarter last year, the company earned ($3.07) EPS. As a group, equities analysts forecast that Moderna will post -9.61 earnings per share for the current year.

Institutional Investors Weigh In On Moderna

Several institutional investors have recently made changes to their positions in MRNA. S Bank Fund Management Ltd acquired a new stake in shares of Moderna in the first quarter valued at about $25,000. SVB Wealth LLC acquired a new position in Moderna during the first quarter worth about $28,000. Costello Asset Management INC purchased a new position in Moderna in the first quarter valued at about $30,000. Sentry Investment Management LLC acquired a new stake in shares of Moderna during the 1st quarter valued at approximately $31,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Moderna by 53.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,128 shares of the company's stock worth $32,000 after acquiring an additional 392 shares in the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

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.