Canaccord Genuity Group Increases Moderna (NASDAQ:MRNA) Price Target to $106.00

Moderna (NASDAQ:MRNA) had its target price lifted by equities researchers at Canaccord Genuity Group from $91.00 to $106.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential downside of 15.20% from the company’s previous close.

Several other equities research analysts have also recently issued reports on MRNA. Jefferies Financial Group reiterated a “buy” rating and issued a $125.00 price target on shares of Moderna in a research note on Tuesday, April 9th. HSBC reiterated a “reduce” rating and set a $86.00 target price (up from $75.00) on shares of Moderna in a research report on Monday, February 26th. Royal Bank of Canada raised their price target on Moderna from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday. William Blair reaffirmed a “market perform” rating on shares of Moderna in a research report on Monday, April 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $129.55.

Moderna Stock Performance

Shares of NASDAQ MRNA opened at $125.00 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.03 and a quick ratio of 3.36. The firm has a market cap of $47.86 billion, a price-to-earnings ratio of -7.98 and a beta of 1.57. The stock’s fifty day moving average price is $105.05 and its two-hundred day moving average price is $94.42. Moderna has a one year low of $62.55 and a one year high of $142.79.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($3.07) EPS for the quarter, beating the consensus estimate of ($3.59) by $0.52. Moderna had a negative net margin of 115.82% and a negative return on equity of 20.10%. The business had revenue of $167.00 million for the quarter, compared to the consensus estimate of $93.26 million. During the same period in the prior year, the company posted $0.19 earnings per share. Moderna’s revenue was down 91.0% compared to the same quarter last year. On average, equities analysts forecast that Moderna will post -7.47 EPS for the current year.

Insider Transactions at Moderna

In related news, insider Shannon Thyme Klinger sold 670 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $63,361.90. Following the sale, the insider now owns 8,557 shares of the company’s stock, valued at approximately $809,235.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Shannon Thyme Klinger sold 670 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total value of $63,361.90. Following the completion of the transaction, the insider now owns 8,557 shares in the company, valued at approximately $809,235.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James M. Mock sold 647 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $61,186.79. Following the sale, the chief financial officer now directly owns 4,300 shares in the company, valued at $406,651. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,954 shares of company stock worth $14,822,576. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of Moderna

A number of institutional investors and hedge funds have recently bought and sold shares of MRNA. Ogorek Anthony Joseph NY ADV bought a new stake in shares of Moderna in the 4th quarter valued at about $27,000. Arlington Trust Co LLC boosted its holdings in Moderna by 4,833.3% in the fourth quarter. Arlington Trust Co LLC now owns 296 shares of the company’s stock valued at $29,000 after acquiring an additional 290 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in Moderna during the 1st quarter valued at approximately $32,000. Rise Advisors LLC raised its holdings in Moderna by 953.3% during the 1st quarter. Rise Advisors LLC now owns 316 shares of the company’s stock worth $34,000 after purchasing an additional 286 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Moderna by 121.8% in the 1st quarter. UMB Bank n.a. now owns 366 shares of the company’s stock worth $39,000 after purchasing an additional 201 shares during the period. 75.33% of the stock is currently owned by institutional investors and hedge funds.

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, 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.