Allworth Financial LP Sells Shares of Moderna, Inc.

Allworth Financial LP has reduced its stake in Moderna, Inc. (NASDAQ:MRNA) by 11.6% in the third quarter, according to their latest filing with the Securities and Exchange Commission (SEC). After selling 213 shares during this period, Allworth now owns 1,620 shares of Moderna's stock, valued at approximately $108,000.

Other institutional investors and hedge funds have also adjusted their positions in Moderna. For instance, Vanguard Group Inc. increased its holdings by 15.1% in the first quarter, now owning 39,036,872 shares valued at $4.16 billion after acquiring an additional 5,129,800 shares. Capital World Investors raised its stake by 0.5%, owning 3,648,117 shares valued at $388.74 million after purchasing 18,728 more shares. Mawer Investment Management Ltd. increased its holdings by 6.7% and now owns 1,916,570 shares valued at $204.23 million, following a purchase of 120,621 shares. Dimensional Fund Advisors LP also boosted its stake by 2.1%, now holding 1,427,300 shares worth $169.54 million after acquiring 29,566 more shares. In addition, Nikko Asset Management Americas Inc. raised its holdings significantly by 156.9%, owning 741,783 shares valued at $79.04 million after buying 453,004 additional shares. Collectively, institutional and hedge fund investors own approximately 75.33% of Moderna’s shares.

Analysts Adjust Price Targets

Several financial analysts have recently provided updates on Moderna’s stock. Jefferies Financial Group has reduced its target price for Moderna from $65.00 to $55.00 and has issued a “hold” rating. Barclays has also decreased its price objective from $155.00 to $125.00, maintaining an “overweight” rating. Earlier, Piper Sandler cut their price target from $157.00 to $115.00 with an “overweight” rating. Deutsche Bank upgraded Moderna from a “sell” to a “hold” rating while lowering their price target from $85.00 to $80.00. Lastly, Sanford C. Bernstein began coverage on Moderna and set a market perform rating with a target price of $55.00. Currently, two analysts rate the stock as a sell, fourteen give it a hold rating, and four have a buy rating, leading to a consensus rating of “Hold” with an average price target of $94.65.

Moderna's Stock Performance

As of Friday, shares of NASDAQ:MRNA opened at $54.36. The 50-day moving average is $65.70, while the 200-day moving average stands at $101.69. Moderna holds a market capitalization of $20.83 billion, and its P/E ratio is -3.47, with a beta value of 1.66. Over the past year, the stock has reached a low of $52.26 and a high of $170.47. The company boasts a current ratio of 4.09, a quick ratio of 3.92, and a debt-to-equity ratio of 0.05.

In its latest quarterly earnings report, issued on August 1st, Moderna reported an EPS of ($3.33), exceeding analysts' expectations of ($3.47) by $0.14. However, the company has seen a negative net margin of 116.18% and a negative return on equity of 21.35%. Moderna reported revenue of $241.00 million, which surpassed forecasts of $128.41 million, although it represents a 29.9% decrease year-over-year. Analysts predict that Moderna will have an EPS of -9.88 for the current fiscal year.

Insider Transactions

In recent news regarding insider trading, CFO James M. Mock sold 715 shares on October 7th, receiving approximately $42,985.80 at an average price of $60.12 per share. Following this transaction, he holds 9,505 shares valued at around $571,440.60. The transaction has not significantly affected his overall holdings. Additionally, on August 28th, CFO Mock sold 1,321 shares for approximately $104,874.19 at an average price of $79.39, which resulted in him owning 8,600 shares valued at $682,754. In total, insiders sold 3,184 shares worth $238,531 in the last quarter, with corporate insiders holding around 15.70% of the company's stock.

About Moderna, Inc.

Moderna, Inc. is a biotechnology firm that develops and commercializes messenger RNA therapeutics and vaccines targeting infectious diseases, rare diseases, autoimmune conditions, and cardiovascular diseases. Their portfolio includes COVID-19 and various respiratory vaccines, as well as candidates for numerous diseases affecting public health.

Allworth, Moderna, Stocks