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

Key Points

• Moderna shares reached a new 52-week high, trading as high as $176.86 after closing at $154.04, with more than 16 million shares changing hands.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating from 24 analysts and a consensus price target of $76.72, well below its recent trading level.
• Moderna exceeded quarterly expectations, reporting a narrower-than-expected loss of $1.97 per share and $145 million in revenue, while insiders have sold more than $16.8 million worth of shares over the past 90 days.

Moderna, Inc. (NASDAQ:MRNA - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $176.86 and last traded at $174.5570, with a volume of 16200492 shares. The stock had previously closed at $154.04.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MRNA shares. Piper Sandler reaffirmed an "overweight" rating on shares of Moderna in a report on Monday, August 3rd. Morgan Stanley raised their target price on shares of Moderna from $39.00 to $89.00 and gave the company an "equal weight" rating in a research note on Thursday, August 20th. Bradesco Corretora upgraded shares of Moderna to an "outperform" rating in a research report on Friday, August 28th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $130.00 target price on shares of Moderna in a research note on Wednesday, August 19th. Finally, Bank of America raised Moderna from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 19th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $76.72.

Moderna Stock Performance

The company has a market cap of $69.64 billion, a P/E ratio of -21.83 and a beta of 1.10. The company's fifty day moving average is $99.71 and its 200 day moving average is $70.29. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09.

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

Insider Buying and Selling

In other news, CFO James M. Mock sold 34,836 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $134.49, for a total transaction of $4,685,093.64. Following the completion of the sale, the chief financial officer owned 59,375 shares of the company's stock, valued at approximately $7,985,343.75. This represents a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Klinger sold 3,471 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $139.95, for a total transaction of $485,766.45. Following the completion of the transaction, the insider owned 74,129 shares in the company, valued at $10,374,353.55. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 118,882 shares of company stock worth $16,862,280 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Moderna

Institutional investors have recently added to or reduced their stakes in the company. Allied Private Wealth LLC bought a new position in shares of Moderna during the second quarter valued at about $30,000. Canton Hathaway LLC bought a new stake in shares of Moderna in the first quarter worth about $31,000. Archer Investment Corp purchased a new position in Moderna during the 2nd quarter valued at about $36,000. Assetmark Inc. raised its position in Moderna by 35.1% during the 1st quarter. Assetmark Inc. now owns 801 shares of the company's stock valued at $41,000 after purchasing an additional 208 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in Moderna in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 75.33% of the company's stock.

Moderna Company Profile

Moderna, Inc is a biotechnology company that develops messenger RNA (mRNA) medicines and vaccines. Its platform is designed to provide cells with instructions to produce proteins that may help prevent or treat infectious diseases, cancer and other medical conditions.

The company's commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults. Moderna also maintains a pipeline of investigational programs in areas such as seasonal influenza, cytomegalovirus, oncology and rare diseases.

Founded in 2010 and headquartered in Cambridge, Massachusetts, Moderna serves markets in the United States and internationally through regulatory approvals, commercial partnerships and distribution arrangements.

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