Moderna (NASDAQ:MRNA) Stock Price Up 9.4% Following Better-Than-Expected Earnings

Moderna, Inc. (NASDAQ:MRNA) was up 9.4% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $122.81 and last traded at $121.99. Approximately 5,955,355 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 4,065,655 shares. The stock had previously closed at $111.46.

The company reported ($3.07) EPS for the quarter, beating the consensus estimate of ($3.59) by $0.52. Moderna had a negative return on equity of 20.10% and a negative net margin of 115.82%. The firm had revenue of $167.00 million for the quarter, compared to analysts’ expectations of $93.26 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue was down 91.0% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Moderna from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Friday. William Blair reiterated a “market perform” rating on shares of Moderna in a research report on Monday, April 1st. Oppenheimer upped their price objective on Moderna from $142.00 to $163.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity Group lifted their target price on Moderna from $91.00 to $106.00 and gave the stock a “hold” rating in a report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Moderna in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $129.55.

Insider Buying and Selling

In other Moderna news, President Stephen Hoge sold 2,388 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.57, for a total value of $225,833.16. Following the completion of the sale, the president now directly owns 1,515,898 shares of the company’s stock, valued at $143,358,473.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Stephen Hoge sold 2,388 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $94.57, for a total transaction of $225,833.16. Following the transaction, the president now owns 1,515,898 shares of the company’s stock, valued at approximately $143,358,473.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Noubar Afeyan sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.92, for a total value of $1,663,800.00. Following the completion of the sale, the director now owns 2,026,931 shares of the company’s stock, valued at $224,827,186.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,954 shares of company stock worth $14,822,576. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On Moderna

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in Moderna by 6.5% during the fourth quarter. Allworth Financial LP now owns 1,660 shares of the company’s stock worth $165,000 after buying an additional 101 shares in the last quarter. TIAA Trust National Association raised its stake in shares of Moderna by 2.3% in the fourth quarter. TIAA Trust National Association now owns 4,491 shares of the company’s stock valued at $447,000 after purchasing an additional 102 shares in the last quarter. Principle Wealth Partners LLC lifted its position in Moderna by 4.3% in the first quarter. Principle Wealth Partners LLC now owns 2,497 shares of the company’s stock worth $266,000 after purchasing an additional 102 shares during the period. Sound Income Strategies LLC boosted its stake in Moderna by 17.8% during the fourth quarter. Sound Income Strategies LLC now owns 762 shares of the company’s stock worth $76,000 after buying an additional 115 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Moderna by 32.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 475 shares of the company’s stock valued at $47,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 75.33% of the company’s stock.

Moderna Stock Down 0.5 %

The business’s fifty day moving average price is $105.05 and its 200 day moving average price is $94.37. The company has a current ratio of 4.03, a quick ratio of 3.36 and a debt-to-equity ratio of 0.04.

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.