Moderna (NASDAQ:MRNA) Sets New 12-Month High - Here's What Happened

Key Points

• Moderna shares reached a new 52-week high, trading as high as $208.90 and closing near $200.87, with a market capitalization of approximately $79 billion.
• Analyst sentiment remains mixed: the consensus rating is “Hold” from 25 analysts, with a consensus price target of $76.72, despite recent upgrades from firms including Argus and Bank of America.
• Moderna exceeded quarterly expectations, reporting an adjusted loss of $1.97 per share versus estimates of $2.03 and revenue of $145 million versus a $102.93 million consensus forecast; however, the company remains unprofitable.

Moderna, Inc. (NASDAQ:MRNA - Get Free Report) shares reached a new 52-week high on Tuesday. The company traded as high as $208.90 and last traded at $200.8710, with a volume of 2574237 shares trading hands. The stock had previously closed at $197.28.

Analyst Ratings Changes

MRNA has been the subject of a number of analyst reports. William Blair started coverage on Moderna in a research note on Friday, August 28th. They issued an "outperform" rating for the company. Bank of America upgraded Moderna from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 19th. Barclays upped their price objective on Moderna from $48.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, August 24th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $130.00 target price on shares of Moderna in a research report on Wednesday, August 19th. Finally, Argus raised Moderna from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Friday, August 28th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Moderna presently has a consensus rating of "Hold" and a consensus target price of $76.72.

Moderna Trading Up 0.3%

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18. The stock has a 50-day moving average price of $114.54 and a two-hundred day moving average price of $75.95. The stock has a market cap of $79.02 billion, a PE ratio of -24.73 and a beta of 1.10.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported ($1.97) EPS for the quarter, topping analysts' consensus estimates of ($2.03) by $0.06. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $102.93 million. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%.The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned ($2.13) earnings per share. Sell-side analysts forecast that Moderna, Inc. will post -6.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Moderna

In other Moderna news, President Stephen Hoge sold 40,294 shares of Moderna stock in a transaction on Monday, September 14th. The shares were sold at an average price of $144.13, for a total value of $5,807,574.22. Following the completion of the transaction, the president directly owned 1,525,858 shares of the company's stock, valued at $219,921,913.54. This trade represents a 2.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jamey Mock sold 34,836 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $134.49, for a total transaction of $4,685,093.64. Following the sale, the chief financial officer owned 59,375 shares in the company, valued at $7,985,343.75. This represents a 36.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,882 shares of company stock worth $16,862,280 over the last 90 days. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Moderna

Several institutional investors have recently modified their holdings of the stock. Allied Private Wealth LLC bought a new stake in Moderna in the second quarter worth about $30,000. Archer Investment Corp bought a new position in shares of Moderna during the second quarter valued at approximately $36,000. Canton Hathaway LLC purchased a new stake in shares of Moderna in the first quarter worth approximately $31,000. Frazier Financial Advisors LLC bought a new stake in shares of Moderna during the 2nd quarter worth approximately $45,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Moderna during the 2nd quarter worth approximately $46,000. 75.33% of the stock is owned by institutional investors.

About Moderna

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can help prevent or treat disease, supporting the company's work across infectious diseases, immuno-oncology, rare diseases, autoimmune conditions, and cardiovascular diseases.

Moderna's commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults.

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