Morgan Stanley Issues Pessimistic Forecast for Moderna (NASDAQ:MRNA) Stock Price

Moderna (NASDAQ:MRNA - Get Free Report) had its target price dropped by investment analysts at Morgan Stanley from $39.00 to $32.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 20.12% from the stock's previous close.

A number of other brokerages have also issued reports on MRNA. Evercore ISI set a $50.00 target price on Moderna in a research report on Friday, February 14th. UBS Group cut their target price on shares of Moderna from $96.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Argus downgraded Moderna from a "buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Bank of America cut their price objective on Moderna from $41.00 to $34.00 and set an "underperform" rating on the stock in a research note on Tuesday, February 11th. Finally, Leerink Partners dropped their price target on Moderna from $31.00 to $27.00 and set an "underweight" rating on the stock in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $58.70.

Moderna Trading Up 1.7 %

MRNA traded up $0.44 during trading on Wednesday, hitting $26.64. 3,061,655 shares of the company's stock were exchanged, compared to its average volume of 7,183,942. The stock has a 50 day moving average price of $31.56 and a 200 day moving average price of $40.84. Moderna has a 1 year low of $23.15 and a 1 year high of $170.47. The firm has a market cap of $10.30 billion, a P/E ratio of -2.87 and a beta of 2.23.

Institutional Trading of Moderna

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRNA. Sentry Investment Management LLC bought a new position in shares of Moderna in the first quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Moderna by 295.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company's stock valued at $33,000 after purchasing an additional 587 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Moderna during the fourth quarter valued at $37,000. Venturi Wealth Management LLC boosted its position in shares of Moderna by 286.2% in the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company's stock valued at $37,000 after purchasing an additional 664 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new position in Moderna in the 4th quarter worth about $41,000. 75.33% of the stock is owned by institutional investors and hedge funds.

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.