Moderna (NASDAQ:MRNA) Price Target Lowered to $28.00 at Citigroup

Key Points

• Citigroup has lowered its price target for Moderna from $30.00 to $28.00, maintaining a "neutral" rating on the stock, which indicates a potential upside of 4.28% from its current price.
• Moderna's recent quarterly earnings report showed a loss of ($2.13) earnings per share, but revenue of $142 million exceeded analyst expectations, despite a 41.1% year-over-year decline.
• Institutional investors own over 75% of Moderna’s stock, with several hedge funds reporting significant increases in their positions during the first quarter.

Moderna (NASDAQ:MRNA - Get Free Report) had its price target decreased by analysts at Citigroup from $30.00 to $28.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's target price would indicate a potential upside of 4.28% from the stock's current price.

Several other equities research analysts have also recently issued reports on the stock. Cowen began coverage on shares of Moderna in a research report on Sunday, July 13th. They set a "hold" rating for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Moderna in a report on Wednesday, October 8th. Needham & Company LLC restated a "hold" rating on shares of Moderna in a report on Monday. Leerink Partners decreased their price target on shares of Moderna from $18.00 to $15.00 and set an "underperform" rating for the company in a research note on Friday, August 22nd. Finally, Bank of America decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $39.07.

Moderna Stock Performance

Shares of NASDAQ MRNA opened at $26.85 on Thursday. The company's fifty day moving average price is $25.98 and its 200 day moving average price is $27.11. Moderna has a 1 year low of $23.15 and a 1 year high of $57.69. The company has a market capitalization of $10.49 billion, a PE ratio of -3.57 and a beta of 2.01.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported ($2.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.99) by $0.86. The business had revenue of $142.00 million for the quarter, compared to the consensus estimate of $116.26 million. Moderna had a negative net margin of 94.31% and a negative return on equity of 25.96%. The company's revenue was down 41.1% compared to the same quarter last year. During the same period last year, the firm posted ($3.33) earnings per share. Moderna has set its FY 2025 guidance at EPS. On average, equities analysts expect that Moderna will post -9.61 EPS for the current year.

Institutional Trading of Moderna

Several institutional investors and hedge funds have recently bought and sold shares of MRNA. GAMMA Investing LLC raised its position in Moderna by 149.8% in the 1st quarter. GAMMA Investing LLC now owns 7,926 shares of the company's stock valued at $225,000 after purchasing an additional 4,753 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Moderna by 37.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,825 shares of the company's stock worth $392,000 after buying an additional 3,744 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Moderna during the 1st quarter worth $266,000. Asset Management One Co. Ltd. raised its position in Moderna by 5.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 130,325 shares of the company's stock worth $3,695,000 after buying an additional 7,274 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Moderna by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 11,604 shares of the company's stock worth $329,000 after buying an additional 6,642 shares during the last quarter. Hedge funds and other institutional investors own 75.33% of the company's stock.

Moderna Company Profile

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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