Moderna (NASDAQ:MRNA) Shares Up 6.7% - Should You Buy?

Key Points

• Moderna shares rose 6.7% to about $145.71, significantly above its 50-day and 200-day moving averages, although trading volume was 88% below the daily average.
• Analyst sentiment remains mixed: the stock carries an overall “Hold” rating, with an average price target of $76.72 despite several recent upgrades and target increases.
• Moderna beat quarterly expectations with a smaller-than-forecast loss and higher-than-expected revenue, but it remains unprofitable; insiders own 10.8% of shares and recently reported sales under pre-arranged trading plans.

Shares of Moderna, Inc. (NASDAQ:MRNA - Get Free Report) traded up 6.7% on Friday . The company traded as high as $141.10 and last traded at $145.7080. 1,340,686 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 11,536,123 shares. The stock had previously closed at $136.62.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup raised their price target on shares of Moderna from $41.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Piper Sandler reaffirmed an "overweight" rating on shares of Moderna in a research report on Monday, August 3rd. Bradesco Corretora upgraded Moderna to an "outperform" rating in a research note on Friday, August 28th. Wolfe Research raised Moderna from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, August 25th. Finally, CLSA upgraded shares of Moderna to an "outperform" rating in a research note on Friday, August 28th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $76.72.

Moderna Stock Performance

The stock has a fifty day moving average price of $91.07 and a 200-day moving average price of $66.19. The company has a quick ratio of 2.18, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The firm has a market cap of $59.35 billion, a price-to-earnings ratio of -18.50 and a beta of 1.10.

Moderna (NASDAQ:MRNA - Get Free Report) last released its earnings results on Friday, July 31st. The company reported ($1.97) earnings per share for the quarter, beating the consensus estimate of ($2.03) by $0.06. The firm had revenue of $145.00 million during 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%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.13) earnings per share. On average, analysts expect that Moderna, Inc. will post -6.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Moderna

In related news, President Stephen Hoge sold 53,336 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $51.37, for a total value of $2,739,870.32. Following the transaction, the president directly owned 1,483,848 shares of the company's stock, valued at approximately $76,225,271.76. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $139.95, for a total value of $485,766.45. Following the completion of the sale, the insider directly owned 74,129 shares in the company, valued at $10,374,353.55. This trade represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Corporate insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc acquired a new position in Moderna in the 2nd quarter valued at $28,000. Allied Private Wealth LLC acquired a new stake in Moderna during the 2nd quarter worth about $30,000. Canton Hathaway LLC bought a new position in shares of Moderna during the 1st quarter worth approximately $31,000. Archer Investment Corp bought a new stake in Moderna in the second quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC increased its position in Moderna by 148.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the company's stock valued at $37,000 after buying an additional 801 shares in the last quarter. 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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