Moderna (NASDAQ:MRNA) Coverage Initiated at Citigroup

Research analysts at Citigroup initiated coverage on shares of Moderna (NASDAQ:MRNA) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $40.00 price target on the stock. Citigroup’s price objective would indicate a potential upside of 15.54% from the company’s previous close.

Several other research firms have also recently issued reports on MRNA. Barclays cut shares of Moderna from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $111.00 to $45.00 in a research note on Tuesday, February 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price objective on shares of Moderna in a report on Tuesday, February 18th. Hsbc Global Res upgraded shares of Moderna from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Morgan Stanley cut their price objective on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, UBS Group cut their price objective on shares of Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.60.

Moderna Price Performance

Moderna stock opened at $34.62 on Thursday. Moderna has a 12-month low of $29.25 and a 12-month high of $170.47. The stock has a market capitalization of $13.36 billion, a P/E ratio of -3.73 and a beta of 1.86. The firm’s 50-day moving average is $35.94 and its two-hundred day moving average is $47.59.

Institutional Trading of Moderna

Hedge funds have recently made changes to their positions in the company. Banco Santander S.A. purchased a new stake in shares of Moderna during the third quarter valued at approximately $3,550,000. John G Ullman & Associates Inc. grew its position in shares of Moderna by 341.3% during the third quarter. John G Ullman & Associates Inc. now owns 49,650 shares of the company’s stock worth $3,318,000 after buying an additional 38,400 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Moderna by 11.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,614,313 shares of the company’s stock worth $107,885,000 after buying an additional 167,596 shares in the last quarter. abrdn plc grew its position in shares of Moderna by 28.1% during the fourth quarter. abrdn plc now owns 315,912 shares of the company’s stock worth $12,842,000 after buying an additional 69,360 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Moderna by 30.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 101,159 shares of the company’s stock worth $6,760,000 after buying an additional 23,881 shares in the last quarter. Hedge funds and other institutional investors own 75.33% 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, 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.