JPMorgan Chase & Co. Cuts Moderna (NASDAQ:MRNA) Price Target to $33.00

Moderna (NASDAQ:MRNA) had its target price decreased by JPMorgan Chase & Co. from $40.00 to $33.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. UBS Group reduced their target price on Moderna from $96.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. 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. Citigroup began coverage on Moderna in a report on Thursday, March 13th. They set a “neutral” rating and a $40.00 price objective on the stock. Morgan Stanley cut their price objective on Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, Leerink Partners cut their price objective on Moderna from $31.00 to $27.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.00.

Moderna Trading Up 0.6 %

Shares of MRNA opened at $32.66 on Friday. Moderna has a 1 year low of $29.25 and a 1 year high of $170.47. The stock has a market cap of $12.60 billion, a P/E ratio of -3.52 and a beta of 1.86. The stock’s 50-day moving average price is $34.91 and its two-hundred day moving average price is $45.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB increased its holdings in shares of Moderna by 295.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 786 shares of the company’s stock worth $33,000 after acquiring an additional 587 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Moderna by 286.2% during the 4th quarter. Venturi Wealth Management LLC now owns 896 shares of the company’s stock worth $37,000 after acquiring an additional 664 shares during the last quarter. Compass Planning Associates Inc acquired a new position in shares of Moderna during the 4th quarter worth approximately $37,000. Crowley Wealth Management Inc. acquired a new position in shares of Moderna during the 4th quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Moderna by 51.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,013 shares of the company’s stock worth $42,000 after acquiring an additional 343 shares during the last quarter. Institutional investors and hedge funds 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.