Redwood Wealth Management Group LLC Raises Stake in Moderna, Inc. (NASDAQ:MRNA)

Redwood Wealth Management Group LLC raised its stake in shares of Moderna, Inc. (NASDAQ:MRNA) by 6.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,342 shares of the company’s stock after buying an additional 215 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Moderna were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. bought a new position in shares of Moderna in the fourth quarter worth $198,000. Quadrant Capital Group LLC increased its stake in Moderna by 7.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,672 shares of the company’s stock worth $266,000 after acquiring an additional 187 shares during the last quarter. Kentucky Retirement Systems raised its holdings in shares of Moderna by 3.3% in the 4th quarter. Kentucky Retirement Systems now owns 26,541 shares of the company’s stock valued at $2,640,000 after acquiring an additional 852 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Moderna by 3.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,818 shares of the company’s stock valued at $1,175,000 after acquiring an additional 348 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Moderna during the 4th quarter valued at about $347,565,000. 75.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Moderna from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $120.00 to $65.00 in a research report on Friday. William Blair restated a “market perform” rating on shares of Moderna in a research report on Thursday, June 27th. Piper Sandler cut their target price on shares of Moderna from $157.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday. Bank of America lowered their price target on Moderna from $130.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $108.53.

Moderna Stock Performance

Shares of MRNA stock opened at $68.28 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.92 and a current ratio of 4.09. Moderna, Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $170.47. The company has a market capitalization of $26.17 billion, a P/E ratio of -4.36 and a beta of 1.67. The stock has a 50 day moving average price of $95.06 and a two-hundred day moving average price of $111.89.

Moderna (NASDAQ:MRNA) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($3.33) EPS for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.14. Moderna had a negative net margin of 116.18% and a negative return on equity of 21.35%. The company had revenue of $241.00 million during the quarter, compared to analyst estimates of $128.41 million. During the same period in the prior year, the business posted ($3.62) EPS. The firm’s revenue was down 29.9% compared to the same quarter last year. Analysts expect that Moderna, Inc. will post -9.52 earnings per share for the current year.

Insider Transactions at Moderna

In other Moderna news, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at approximately $682,754. 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 Moderna stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $127.22, for a total value of $1,908,300.00. Following the sale, the director now owns 2,284,015 shares in the company, valued at $290,572,388.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James M. Mock sold 1,321 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $79.39, for a total transaction of $104,874.19. Following the completion of the transaction, the chief financial officer now owns 8,600 shares of the company’s stock, valued at $682,754. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,158 shares of company stock worth $11,167,312. Company insiders own 15.70% of the company’s stock.

Moderna 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.