Moderna (NASDAQ:MRNA) Shares Up 1.3% - Should You Buy?

Key Points

• Moderna shares rose 1.3% to $145.62, with trading volume below average. The stock’s market capitalization was approximately $58.1 billion.
• Analyst sentiment remains mixed: seven analysts rate Moderna a Buy, 12 a Hold and five a Sell, producing an overall “Hold” rating and an average price target of $76.72.
• Moderna beat quarterly expectations with a loss of $1.97 per share versus the estimated $2.03 loss and revenue of $145 million versus the $102.93 million consensus. However, the company remains unprofitable, while insiders sold approximately $16.9 million of stock over the past three months.

Moderna, Inc. (NASDAQ:MRNA - Get Free Report) traded up 1.3% during trading on Wednesday . The stock traded as high as $148.93 and last traded at $145.62. Approximately 8,791,650 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 11,582,562 shares. The stock had previously closed at $143.77.

Wall Street Analyst Weigh In

MRNA has been the subject of a number of research reports. Loop Capital set a $135.00 target price on Moderna in a research note on Wednesday, August 19th. Piper Sandler reiterated an "overweight" rating on shares of Moderna in a research report on Monday, August 3rd. William Blair initiated coverage on Moderna in a report on Friday, August 28th. They issued an "outperform" rating on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $130.00 price objective on shares of Moderna in a research report on Wednesday, August 19th. Finally, Citigroup upped their price objective on Moderna from $41.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $76.72.

Moderna Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.18 and a current ratio of 2.29. The business's 50 day simple moving average is $94.93 and its 200-day simple moving average is $68.18. The stock has a market capitalization of $58.14 billion, a price-to-earnings ratio of -18.23 and a beta of 1.10.

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

Insider Buying and Selling

In related news, President Stephen Hoge sold 40,294 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $144.13, for a total value of $5,807,574.22. Following the sale, the president directly owned 1,525,858 shares in the company, valued at $219,921,913.54. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Moderna stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total value of $485,766.45. Following the sale, the insider directly owned 74,129 shares in the company, valued at $10,374,353.55. The trade was 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 sold 118,882 shares of company stock valued at $16,862,280 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Moderna

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Moderna during the 2nd quarter worth about $2,142,877,000. Theleme Partners LLP acquired a new position in Moderna in the 2nd quarter worth approximately $564,272,000. Capital World Investors acquired a new stake in shares of Moderna in the fourth quarter worth $378,299,000. Wellington Management Group LLP grew its holdings in shares of Moderna by 4.4% during the second quarter. Wellington Management Group LLP now owns 2,461,574 shares of the company's stock valued at $172,384,000 after buying an additional 103,977 shares in the last quarter. Finally, Merck & Co. Inc. purchased a new position in shares of Moderna during the second quarter valued at $161,642,545. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.