Price T Rowe Associates Inc. MD Sells 386,924 Shares of Moderna, Inc. (NASDAQ:MRNA)

Price T Rowe Associates Inc. MD reduced its stake in Moderna, Inc. (NASDAQ:MRNA - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,073,055 shares of the company's stock after selling 386,924 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.28% of Moderna worth $44,618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MRNA. Wilmington Savings Fund Society FSB increased its position in Moderna by 295.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company's stock worth $33,000 after buying an additional 587 shares in the last quarter. Compass Planning Associates Inc bought a new position in shares of Moderna during the 4th quarter valued at approximately $37,000. Venturi Wealth Management LLC increased its holdings in Moderna by 286.2% in the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company's stock worth $37,000 after acquiring an additional 664 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Moderna during the 4th quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Moderna by 58.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company's stock valued at $44,000 after purchasing an additional 389 shares in the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of Moderna from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $99.00 to $51.00 in a research report on Wednesday, January 29th. Royal Bank of Canada lowered their price objective on Moderna from $32.00 to $28.00 and set a "sector perform" rating on the stock in a research report on Friday. Evercore ISI dropped their price objective on Moderna from $50.00 to $32.00 and set an "in-line" rating for the company in a research note on Friday. Barclays decreased their target price on Moderna from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, Bank of America dropped their price target on Moderna from $41.00 to $34.00 and set an "underperform" rating for the company in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Moderna currently has a consensus rating of "Hold" and a consensus target price of $53.95.

Moderna Stock Up 2.1 %

NASDAQ MRNA traded up $0.58 during trading hours on Friday, hitting $27.61. 7,542,573 shares of the company were exchanged, compared to its average volume of 7,424,082. The stock has a market cap of $10.67 billion, a PE ratio of -2.98 and a beta of 1.99. Moderna, Inc. has a 52 week low of $23.15 and a 52 week high of $170.47. The stock has a 50-day moving average price of $29.52 and a 200 day moving average price of $37.46.

Moderna (NASDAQ:MRNA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share for the quarter, beating the consensus estimate of ($2.92) by $0.40. The company had revenue of $108.00 million for the quarter, compared to analyst estimates of $130.35 million. Moderna had a negative return on equity of 28.74% and a negative net margin of 110.04%. Moderna's quarterly revenue was down 35.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($3.07) EPS. As a group, sell-side analysts anticipate that Moderna, Inc. will post -9.61 earnings per share for the current year.

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.