As of its most recent filing with the Securities and Exchange Commission (SEC), Flagship Harbor Advisors LLC has reduced its position in Moderna, Inc. (NASDAQ:MRNA) by 51.9% during the second quarter. The firm now owns 4,011 shares of Moderna’s stock after selling 4,336 shares, marking a significant adjustment to its holdings. The value of Flagship Harbor Advisors LLC’s investments in Moderna currently stands at $487,000.
Moderna recently disclosed its quarterly earnings data on Thursday, August 3rd. For the quarter, the company reported earnings per share of ($3.62), surpassing the consensus estimate of ($3.84) by $0.22. During this period, Moderna generated revenue amounting to $344 million, outperforming analyst expectations of $307.67 million. Despite the impressive performance on these fronts, it is worth noting that Moderna experienced a substantial decline in revenue compared to the same quarter last year with a decrease of 92.8%. In the corresponding period last year, the company posted earnings per share of $5.24.
It is important to consider that equities analysts predict that Moderna will post earnings per share ranging from -$4.32 for the current fiscal year.
These latest developments have sparked interest among investors and experts alike as they eagerly observe Moderna’s performance in light of these fluctuating figures and notable changes in investment positions.
Please refer to our latest stock analysis on MRNA for more insights into this evolving situation and how these factors may impact Moderna’s future performance and investor sentiment.
Published on September 20, 2023
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Hedge Funds and Institutional Investors Show Interest in Moderna Amidst Volatility and Insider Sales
September 20, 2023 – Hedge funds have been actively buying and selling shares of biotechnology company Moderna. Castle Rock Wealth Management LLC saw a significant increase of 85.4% in its holdings during the second quarter, acquiring an additional 2,704 shares. This boosted their overall ownership to 5,871 shares valued at $725,000.
Similarly, AE Wealth Management LLC increased its holdings by 15.9% during the same period, adding an extra 922 shares to their portfolio. They now own a total of 6,721 shares valued at $817,000.
SG Americas Securities LLC experienced a substantial boost in its holdings by a staggering 201.6%. After acquiring an additional 49,335 shares during the second quarter, they now hold a total of 73,810 shares valued at $8,968,000.
DNB Asset Management AS also saw a slight increase of 4.1%, adding an extra 2,615 shares to their stockpile during the second quarter. They currently hold approximately 67,144 shares valued at $8,158,000.
Lastly, Legacy Private Trust Co. witnessed a rise in their stake by 15.5% during the second quarter after purchasing an additional 904 shares. Their current ownership stands at 6,747 shares valued at $820,000.
These purchases have contributed significantly to institutional ownership with approximately 64.51% of Moderna’s stock being held by institutional investors.
NASDAQ MRNA opened on Wednesday at $106.74. The company has a market capitalization of $40.62 billion and exhibits a price-to-earnings ratio of 39.39 with a beta score of 1.63.
Moderna’s stock performance is showcased through its moving averages over different time periods—50 days and200 days.The current moving averages stand at $112.19 and$127.44, respectively.
The biotech company boasts a commendable current ratio of 3.39 and a quick ratio of 3.16, indicating its ability to meet short-term financial obligations. Furthermore, it maintains a debt-to-equity ratio of 0.05, reflecting a conservative approach in financing.
Moderna has witnessed fluctuations in share value over the past year, reaching a low of $95.02 and a high of $217.25. Investors should keep this volatility in mind when considering the stock for investment purposes.
In recent news, CEO Stephane Bancel sold 27,155 shares of Moderna on June 28th at an average price of $121.63 per share, resulting in a total transaction value of $3,302,862.65. Following this sale, the CEO now holds 5,411,946 shares worth approximately $658,254,991.98.
Additionally, President Stephen Hoge sold 247 shares on August 10th at an average price of $102.53 per share for a total transaction value of $25,324.91.His remaining stake stands at 1,602,579 shares with an estimated worth of around $164,312,424.87.
Insider activity has been notable over the last three months with insiders selling a substantial amount of stock—234,209 shares valued at $27,169,
461.However,the corporate insiders still retain significant ownership as they account for15.70%of the company’s stock.
A number of equities research analysts have weighed in on Moderna recently.Deutsche Bank Aktiengesellschaft downgraded the stock from “buy” to “hold” and reduced their target price from$200 to$125.Royal Bank
of Canada lowered their target pricefrom$200to$190while rating the company as “outperform.” Bank of America also reduced its target price from $175 to $150, assigning a”neutral” rating.
In their research note, William Blair initiated coverage on Moderna with a “market perform” rating and a target price of $136.28.
Furthermore, Jefferies Financial Group lowered their price target from $275 to $175 in their research note.
According to data from Bloomberg.com, consensus among analysts currently rates Moderna as “Hold,” with an average price target of $155.52.
Overall, Moderna’s recent activity in the stock market has piqued the interest of hedge funds and institutional investors alike. The biotech company’s volatility and insider sales shed light on potential risks associated with the investment. It remains to be seen how these developments will impact its future performance.