PNC Financial Services Group Inc. Sells 6,873 Shares of Moderna, Inc. (NASDAQ:MRNA)

PNC Financial Services Group Inc. cut its holdings in Moderna, Inc. (NASDAQ:MRNA) by 20.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,126 shares of the company’s stock after selling 6,873 shares during the period. PNC Financial Services Group Inc.’s holdings in Moderna were worth $1,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MRNA. Janney Montgomery Scott LLC boosted its stake in Moderna by 6.3% in the third quarter. Janney Montgomery Scott LLC now owns 12,767 shares of the company’s stock valued at $853,000 after acquiring an additional 756 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Moderna by 23.5% during the third quarter. Apollon Wealth Management LLC now owns 5,064 shares of the company’s stock worth $338,000 after purchasing an additional 962 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Moderna during the third quarter worth $377,000. Metis Global Partners LLC boosted its position in shares of Moderna by 13.9% during the third quarter. Metis Global Partners LLC now owns 14,834 shares of the company’s stock worth $991,000 after purchasing an additional 1,814 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Moderna by 14.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,784 shares of the company’s stock worth $721,000 after purchasing an additional 1,387 shares in the last quarter. 75.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $69.00 price target (down from $115.00) on shares of Moderna in a research report on Monday, November 18th. Evercore ISI set a $50.00 price target on shares of Moderna in a research report on Friday, February 14th. Barclays cut shares of Moderna from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $111.00 to $45.00 in a research report on Tuesday, February 18th. Leerink Partners cut their price objective on shares of Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price objective on shares of Moderna in a research report on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.60.

Moderna Trading Up 0.9 %

Shares of MRNA stock opened at $34.62 on Monday. Moderna, Inc. has a 1 year low of $29.25 and a 1 year high of $170.47. The firm’s fifty day moving average price is $35.94 and its two-hundred day moving average price is $47.15. The firm has a market capitalization of $13.36 billion, a P/E ratio of -3.73 and a beta of 1.86.

Moderna Company 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.