Moderna, Inc. (NASDAQ:MRNA – Free Report) – Leerink Partnrs reduced their FY2023 earnings estimates for shares of Moderna in a research report issued to clients and investors on Thursday, September 14th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will earn ($2.04) per share for the year, down from their prior estimate of ($1.92). The consensus estimate for Moderna’s current full-year earnings is ($4.31) per share. Leerink Partnrs also issued estimates for Moderna’s Q4 2023 earnings at $2.66 EPS and FY2024 earnings at ($6.52) EPS.
Other analysts also recently issued reports about the company. Royal Bank of Canada decreased their price target on Moderna from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, August 4th. William Blair started coverage on Moderna in a report on Monday, July 24th. They set a “market perform” rating and a $136.28 price target on the stock. Deutsche Bank Aktiengesellschaft cut Moderna from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $125.00 in a report on Thursday, August 3rd. HSBC started coverage on shares of Moderna in a report on Friday, July 14th. They set a “reduce” rating and a $97.00 price objective on the stock. Finally, Argus dropped their price objective on shares of Moderna from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $155.52.
Moderna Stock Performance
Shares of Moderna stock opened at $114.59 on Monday. The company has a current ratio of 3.39, a quick ratio of 3.16 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $112.87 and a two-hundred day moving average price of $127.93. Moderna has a 1-year low of $95.02 and a 1-year high of $217.25. The company has a market cap of $43.61 billion, a P/E ratio of 42.28 and a beta of 1.63.
Moderna (NASDAQ:MRNA – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($3.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.84) by $0.22. Moderna had a net margin of 11.33% and a return on equity of 6.62%. The business had revenue of $344.00 million during the quarter, compared to the consensus estimate of $307.67 million. During the same quarter in the prior year, the firm posted $5.24 EPS. The company’s revenue for the quarter was down 92.8% compared to the same quarter last year.
Hedge Funds Weigh In On Moderna
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. RB Capital Management LLC raised its holdings in shares of Moderna by 7.5% in the 1st quarter. RB Capital Management LLC now owns 2,267 shares of the company’s stock worth $391,000 after purchasing an additional 158 shares during the period. Synovus Financial Corp boosted its position in Moderna by 8.0% during the first quarter. Synovus Financial Corp now owns 4,049 shares of the company’s stock worth $704,000 after purchasing an additional 300 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Moderna by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 987,478 shares of the company’s stock worth $170,121,000 after purchasing an additional 47,755 shares in the last quarter. Blair William & Co. IL raised its position in shares of Moderna by 12.4% in the first quarter. Blair William & Co. IL now owns 15,611 shares of the company’s stock valued at $2,689,000 after purchasing an additional 1,724 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Moderna by 41.4% during the 1st quarter. Sei Investments Co. now owns 58,160 shares of the company’s stock valued at $10,019,000 after buying an additional 17,031 shares in the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO Stephane Bancel sold 40,000 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $121.98, for a total value of $4,879,200.00. Following the completion of the sale, the chief executive officer now owns 5,411,946 shares in the company, valued at $660,149,173.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Noubar Afeyan sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $121.95, for a total value of $1,829,250.00. Following the completion of the transaction, the director now directly owns 2,127,209 shares of the company’s stock, valued at $259,413,137.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephane Bancel sold 40,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $121.98, for a total transaction of $4,879,200.00. Following the completion of the transaction, the chief executive officer now directly owns 5,411,946 shares in the company, valued at $660,149,173.08. The disclosure for this sale can be found here. Insiders sold a total of 274,209 shares of company stock worth $32,183,061 over the last quarter. Insiders own 15.70% of the company’s stock.
About Moderna
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, flu, respiratory syncytial virus, Endemic HCoV, and hMPV+PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, herpes simplex virus, varicella-zoster virus, and human immunodeficiency virus vaccines; and public health vaccines consists of Zika and Nipah vaccines.
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