Moderna (NASDAQ:MRNA) Stock Price Up 9.4%

Moderna, Inc. (NASDAQ:MRNA - Get Free Report)'s stock price rose 9.4% on Thursday . The company traded as high as $122.81 and last traded at $121.99. Approximately 5,955,355 shares were traded during trading, an increase of 46% from the average daily volume of 4,065,655 shares. The stock had previously closed at $111.46.

Analyst Ratings Changes

MRNA has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $125.00 target price on shares of Moderna in a research report on Thursday, March 28th. Needham & Company LLC reissued a "hold" rating on shares of Moderna in a research report on Thursday. William Blair reissued a "market perform" rating on shares of Moderna in a research report on Monday, April 1st. HSBC reissued a "reduce" rating and issued a $86.00 price target (up from $75.00) on shares of Moderna in a research report on Monday, February 26th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $125.00 price target on shares of Moderna in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Moderna has a consensus rating of "Hold" and an average price target of $126.49.

Moderna Price Performance

The company has a quick ratio of 3.36, a current ratio of 3.42 and a debt-to-equity ratio of 0.04. The business's 50-day simple moving average is $103.95 and its 200 day simple moving average is $93.92. The firm has a market capitalization of $48.09 billion, a P/E ratio of -10.01 and a beta of 1.57.

Moderna (NASDAQ:MRNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $1.33. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.53 billion. Moderna had a negative net margin of 68.84% and a negative return on equity of 10.23%. The business's quarterly revenue was down 44.9% on a year-over-year basis. During the same period last year, the business earned $3.61 earnings per share. Sell-side analysts forecast that Moderna, Inc. will post -7.51 earnings per share for the current year.

Insider Activity

In related news, Director Noubar Afeyan sold 15,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $108.54, for a total value of $1,628,100.00. Following the completion of the sale, the director now owns 2,131,931 shares of the company's stock, valued at $231,399,790.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Moderna news, President Stephen Hoge sold 2,388 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.57, for a total value of $225,833.16. Following the completion of the transaction, the president now owns 1,515,898 shares in the company, valued at $143,358,473.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Noubar Afeyan sold 15,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $108.54, for a total value of $1,628,100.00. Following the completion of the transaction, the director now owns 2,131,931 shares of the company's stock, valued at approximately $231,399,790.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,954 shares of company stock valued at $13,158,776. 15.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Moderna

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Moderna by 22.6% in the fourth quarter. Vanguard Group Inc. now owns 33,907,072 shares of the company's stock worth $3,372,058,000 after purchasing an additional 6,248,623 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Moderna by 28.8% during the 4th quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company's stock valued at $718,584,000 after buying an additional 1,614,460 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Moderna by 77.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,876,147 shares of the company's stock valued at $400,367,000 after buying an additional 1,690,341 shares in the last quarter. Norges Bank purchased a new position in shares of Moderna during the 4th quarter valued at about $347,565,000. Finally, Invesco Ltd. lifted its position in shares of Moderna by 19.8% during the 3rd quarter. Invesco Ltd. now owns 3,126,028 shares of the company's stock valued at $322,887,000 after buying an additional 517,683 shares in the last quarter. 75.33% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.