PFG Private Wealth Management LLC Acquires New Shares in Moderna, Inc. $MRNA

PFG Private Wealth Management LLC bought a new position in Moderna, Inc. (NASDAQ:MRNA) in the third quarter, HoldingsChannel.com reports. The fund bought 2,458 shares of the company’s stock, valued at approximately $473,000.

A number of other hedge funds have also modified their holdings of MRNA. Fortitude Family Office LLC increased its position in shares of Moderna by 53.1% during the third quarter. Fortitude Family Office LLC now owns 222 shares of the company’s stock valued at $43,000 after buying an additional 77 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Moderna by 2.6% in the second quarter. TD Waterhouse Canada Inc. now owns 3,388 shares of the company’s stock worth $246,000 after buying an additional 85 shares in the last quarter. Mather Group LLC. boosted its position in shares of Moderna by 2.0% in the third quarter. Mather Group LLC. now owns 7,756 shares of the company’s stock valued at $1,494,000 after acquiring an additional 152 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Moderna by 8.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,976 shares of the company’s stock valued at $381,000 after acquiring an additional 159 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Moderna by 35.1% in the first quarter. Assetmark Inc. now owns 801 shares of the company’s stock valued at $41,000 after acquiring an additional 208 shares during the period. 75.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MRNA. The Goldman Sachs Group boosted their price objective on Moderna from $120.00 to $137.00 and gave the stock a “neutral” rating in a report on Thursday. Singular Research raised shares of Moderna to a “hold” rating in a research note on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Moderna in a research report on Friday, August 28th. They set a “hold” rating and a $125.00 target price for the company. UBS Group reiterated a “neutral” rating on shares of Moderna in a research report on Tuesday, September 22nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $130.00 price target on shares of Moderna in a research note on Wednesday, August 19th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Moderna presently has a consensus rating of “Hold” and an average price target of $101.45.

Trending Headlines about Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna rallied as money moved from popular technology shares into healthcare. The move was notably stronger than gains among other major mRNA companies, suggesting renewed investor interest in Moderna. Moderna Rallies 6% as Money Rotates Into Healthcare; BioNTech and Pfizer Edge Higher
• Positive Sentiment: Merck CEO Rob Davis said the companies expect their breakthrough cancer vaccine to become faster to manufacture over time. He described the manufacturing process as complex but said Merck and Moderna have refined it substantially, supporting optimism about potential commercialization. Merck CEO tells CNBC he expects breakthrough cancer vaccine will become faster to make
• Neutral Sentiment: Investor enthusiasm for Moderna’s cancer-vaccine opportunity has helped drive a dramatic year-to-date rally. However, the coverage cautions that the stock’s valuation may already reflect substantial future success, increasing the risk of volatility if development or commercial progress disappoints. Moderna Stock Is Soaring on Cancer Vaccine Buzz. Is It Too Late to Get In?
• Negative Sentiment: Goldman Sachs raised its Moderna price target from $120 to $137 but maintained a Neutral rating. The revised target remains well below the current trading level, signaling that the bank views the recent rally as ahead of its fundamental valuation. Goldman Sachs raises Moderna price target

Insiders Place Their Bets

In other Moderna news, President Stephen Hoge sold 40,294 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $144.13, for a total value of $5,807,574.22. Following the completion of the transaction, the president directly owned 1,525,858 shares in the company, valued at $219,921,913.54. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jamey Mock sold 34,836 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $134.49, for a total transaction of $4,685,093.64. Following the sale, the chief financial officer directly owned 59,375 shares of the company’s stock, valued at approximately $7,985,343.75. This trade represents a 36.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,882 shares of company stock worth $16,862,280 in the last three months. 10.80% of the stock is owned by company insiders.

Moderna Stock Up 5.2%

Moderna stock traded up $11.80 during mid-day trading on Thursday, reaching $238.10. The stock had a trading volume of 11,761,500 shares, compared to its average volume of 12,269,985. Moderna, Inc. has a one year low of $22.28 and a one year high of $242.29. The company has a 50-day moving average price of $149.83 and a two-hundred day moving average price of $88.67. The company has a market capitalization of $95.06 billion, a price-to-earnings ratio of -29.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18.

Moderna (NASDAQ:MRNA) last announced its earnings results on Friday, July 31st. The company reported ($1.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $0.06. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%. The business had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $102.93 million. During the same period last year, the firm posted ($2.13) earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts expect that Moderna, Inc. will post -6.11 EPS for the current fiscal year.

Moderna Company Profile

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can help prevent or treat disease, supporting the company’s work across infectious diseases, immuno-oncology, rare diseases, autoimmune conditions, and cardiovascular diseases.

Moderna’s commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults.