Corebridge Financial Inc. Sells 28,775 Shares of Moderna, Inc. (NASDAQ:MRNA)

Corebridge Financial Inc. lowered its holdings in shares of Moderna, Inc. (NASDAQ:MRNA) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,706 shares of the company’s stock after selling 28,775 shares during the period. Corebridge Financial Inc.’s holdings in Moderna were worth $3,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRNA. Crowley Wealth Management Inc. bought a new position in Moderna during the 4th quarter valued at approximately $41,000. LPL Financial LLC increased its holdings in shares of Moderna by 274.6% during the fourth quarter. LPL Financial LLC now owns 367,878 shares of the company’s stock valued at $15,296,000 after acquiring an additional 269,682 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Moderna in the 4th quarter worth about $4,441,000. American Century Companies Inc. grew its position in Moderna by 2.7% during the 4th quarter. American Century Companies Inc. now owns 44,619 shares of the company’s stock valued at $1,855,000 after purchasing an additional 1,187 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in Moderna by 315.3% during the 4th quarter. Quantbot Technologies LP now owns 9,307 shares of the company’s stock valued at $387,000 after purchasing an additional 7,066 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MRNA shares. Morgan Stanley dropped their target price on shares of Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 target price on shares of Moderna in a report on Tuesday, February 18th. Berenberg Bank upped their price target on Moderna from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Evercore ISI set a $50.00 price objective on Moderna in a report on Friday, February 14th. Finally, Bank of America lowered their target price on shares of Moderna from $41.00 to $34.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.00.

Moderna Price Performance

Shares of MRNA stock opened at $31.12 on Monday. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of -3.35 and a beta of 1.86. The company’s fifty day moving average price is $34.72 and its 200-day moving average price is $44.13. Moderna, Inc. has a one year low of $29.25 and a one year high of $170.47.

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.