Allworth Financial LP Reduces Stake in Moderna, Inc.

Allworth Financial LP has reduced its investment in Moderna, Inc. (NASDAQ:MRNA – Free Report) by 11.6% in the third quarter. This change was disclosed in a recent report submitted to the Securities and Exchange Commission. After selling 213 shares during this period, Allworth Financial LP now holds 1,620 shares of Moderna's stock, which were valued at approximately $108,000 according to its latest filing.

In addition to Allworth Financial, other institutional investors and hedge funds have also made adjustments to their positions in Moderna recently. For instance, Vanguard Group Inc. increased its holdings by 15.1% during the first quarter, now owning 39,036,872 shares worth about $4.16 billion after acquiring an additional 5,129,800 shares. Similarly, Capital World Investors raised its stake by 0.5%, holding 3,648,117 shares valued at $388.74 million after adding 18,728 shares in the same timeframe. Mawer Investment Management Ltd. also increased its investment in Moderna by 6.7%, bringing its total to 1,916,570 shares, valued at $204.23 million after purchasing 120,621 shares.

Dimensional Fund Advisors LP has similarly raised its stake in the second quarter by 2.1%, now holding 1,427,300 shares worth approximately $169.54 million after purchasing an extra 29,566 shares. Additionally, Nikko Asset Management Americas Inc. significantly increased its holdings in Moderna by 156.9% during the first quarter, now owning 741,783 shares valued at $79.04 million after acquiring 453,004 shares during that period. Overall, hedge funds and various institutional investors own about 75.33% of Moderna's stock.

Analyst Insights and Price Targets

Recent analyst reports have provided varying outlooks for Moderna's stock. Jefferies Financial Group recently lowered its price target from $65.00 to $55.00, designating a “hold” rating for the company. In a different report, Barclays reduced its price objective from $155.00 to $125.00 while retaining an “overweight” rating. Piper Sandler also adjusted its price target from $157.00 to $115.00, maintaining an “overweight” rating. Deutsche Bank upgraded its stance on Moderna from a “sell” to a “hold” and lowered its price target from $85.00 to $80.00. An additional analyst firm, Sanford C. Bernstein, has also recently initiated coverage with a “market perform” rating and a $55.00 price objective.

The consensus from analysts indicates that two have rated the stock as a sell, fourteen view it as a hold, and four have given it a buy rating. According to MarketBeat.com, Moderna currently has an average price target of $94.65 and holds a consensus rating of “Hold.”

Recent Stock Performance

As of the last trading session, shares of Moderna (NASDAQ:MRNA) opened at $54.36. The stock's 50-day moving average stands at $65.70, while the 200-day moving average is $101.69. Moderna's market capitalization is currently $20.83 billion, with a price-to-earnings (P/E) ratio of -3.47 and a beta of 1.66. The share price has fluctuated significantly, with a 12-month low of $52.26 and a high of $170.47. The liquidity measures indicate a current ratio of 4.09 and a quick ratio of 3.92, showcasing a debt-to-equity ratio of just 0.05.

For the most recent quarter, Moderna reported earnings data on August 1st, revealing an earnings loss of ($3.33) per share, which surprisingly surpassed analysts' expectations of ($3.47) by 14 cents. However, Moderna noted a negative net margin of 116.18% and a negative return on equity of 21.35%. Revenue for the quarter was reported at $241.00 million, beating the predicted figure of $128.41 million among analysts. Notably, the company's revenue has decreased by 29.9% year-over-year, with forecasts suggesting a negative earnings per share (EPS) of -9.88 for the current fiscal year.

Insider Actions

Recently, Moderna's Chief Financial Officer, James M. Mock, engaged in stock trading activity, selling 715 shares on October 7th at an average price of $60.12 for a total value of $42,985.80. Following this transaction, he retains 9,505 shares valued at approximately $571,440.60, which reflects a negligible change in his total ownership. In another transaction, Mock sold 1,321 shares on August 28th at an average price of $79.39, amounting to $104,874.19. Post-sale, his total shareholding decreased slightly to 8,600 shares, valued at $682,754. Overall, corporate insiders have sold about 3,184 shares valued at $238,531 in the last quarter.

Overview of Moderna, Inc.

Moderna, Inc. is a biotechnology firm focused on the discovery, development, and commercialization of messenger RNA (mRNA) therapeutics and vaccines targeting various infectious diseases, immuno-oncology, rare diseases, autoimmune conditions, and cardiovascular ailments across the United States, Europe, and globally. The company's product offerings include respiratory vaccines targeting COVID-19, influenza, respiratory syncytial virus (RSV), as well as other innovative vaccines aimed at numerous diseases, including latent infections like cytomegalovirus and epstein-barr virus.

Moderna, Investment, Analysts