Moderna, Inc. (NASDAQ:MRNA) Stake Lowered by Allspring Global Investments Holdings LLC

Posted by Defense World Staff on Nov 3rd, 2023

Allspring Global Investments Holdings LLC trimmed its position in Moderna, Inc. (NASDAQ:MRNA – Free Report) by 12.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,029 shares of the company’s stock after selling 7,084 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Moderna were worth $6,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MRNA. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Moderna by 98,101.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 142,396,614 shares of the company’s stock valued at $17,301,189,000 after purchasing an additional 142,251,609 shares in the last quarter. Baillie Gifford & Co. increased its position in Moderna by 3.7% during the first quarter. Baillie Gifford & Co. now owns 46,466,171 shares of the company’s stock worth $7,136,275,000 after buying an additional 1,679,425 shares during the last quarter. Geode Capital Management LLC increased its position in Moderna by 1.3% during the first quarter. Geode Capital Management LLC now owns 6,244,957 shares of the company’s stock worth $957,063,000 after buying an additional 77,265 shares during the last quarter. Wellington Management Group LLP increased its position in Moderna by 0.4% during the first quarter. Wellington Management Group LLP now owns 4,292,235 shares of the company’s stock worth $659,201,000 after buying an additional 15,271 shares during the last quarter. Finally, Morgan Stanley increased its position in Moderna by 19.1% during the fourth quarter. Morgan Stanley now owns 4,187,353 shares of the company’s stock worth $752,133,000 after buying an additional 670,284 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen downgraded shares of Moderna from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $125.00 in a research report on Friday, August 4th. Argus cut their price target on shares of Moderna from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 13th. Deutsche Bank Aktiengesellschaft cut shares of Moderna from a “hold” rating to a “sell” rating and cut their price target for the stock from $125.00 to $60.00 in a research note on Thursday. Morgan Stanley cut their target price on shares of Moderna from $128.00 to $123.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. Finally, Jefferies Financial Group lowered their price target on shares of Moderna from $275.00 to $175.00 in a report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $143.33.

Check Out Our Latest Report on Moderna

Insiders Place Their Bets

In other Moderna news, President Stephen Hoge sold 247 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $102.53, for a total value of $25,324.91. Following the completion of the sale, the president now directly owns 1,602,579 shares in the company, valued at $164,312,424.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Noubar Afeyan sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $115.51, for a total transaction of $1,732,650.00. Following the completion of the transaction, the director now owns 2,012,209 shares of the company’s stock, valued at $232,430,261.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Stephen Hoge sold 247 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $102.53, for a total transaction of $25,324.91. Following the transaction, the president now directly owns 1,602,579 shares of the company’s stock, valued at approximately $164,312,424.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,912 shares of company stock worth $17,836,893. 15.70% of the stock is currently owned by company insiders.

Moderna Price Performance

Shares of NASDAQ:MRNA opened at $71.23 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.39 and a quick ratio of 3.16. Moderna, Inc. has a one year low of $62.55 and a one year high of $217.25. The firm has a 50 day simple moving average of $98.49 and a 200 day simple moving average of $114.61. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 26.28 and a beta of 1.70.

Moderna (NASDAQ:MRNA – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($3.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.84) by $0.22. Moderna had a net margin of 11.33% and a return on equity of 6.62%. The firm had revenue of $344.00 million during the quarter, compared to analysts’ expectations of $307.67 million. During the same period in the prior year, the company posted $5.24 EPS. The company’s revenue was down 92.8% on a year-over-year basis. Research analysts predict that Moderna, Inc. will post -4.51 earnings per share for the current fiscal year.

About Moderna

(Free Report)

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, 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; and public health vaccines consists of Zika and Nipah vaccines.