Moderna (NASDAQ:MRNA) Stock Falls 9.5% – Here’s What Happened
by Teresa Graham · The Cerbat GemModerna, Inc. (NASDAQ:MRNA – Get Free Report) was down 9.5% during trading on Friday. The company traded as low as $219.61 and last traded at $214.1360. Approximately 2,486,744 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 12,238,993 shares. The stock had previously closed at $236.50.
Moderna News Summary
Here are the key news stories impacting Moderna this week:
- Positive Sentiment: Investor enthusiasm remains high ahead of Moderna’s cancer-vaccine data, particularly its personalized melanoma vaccine program. The company’s partnership with Merck also received a boost after Merck’s CEO said manufacturing could become faster and more efficient over time. Why Did MRNA, KO, V Stocks Climb To 52-Week Highs Today? Merck CEO Discusses Cancer Vaccine Manufacturing
- Positive Sentiment: Moderna has become one of the market’s strongest-performing biotech stocks this year, supported by pipeline optimism, healthcare-sector fund flows and improving investor interest beyond artificial intelligence stocks. Moderna Rallies as Money Rotates Into Healthcare
- Neutral Sentiment: Goldman Sachs raised its Moderna price target from $120 to $137 but retained a Neutral rating. The increase recognizes the company’s momentum, while the rating indicates that the analyst sees limited support at the current valuation. Goldman Raises Moderna Target Ahead of Melanoma Data
- Negative Sentiment: Profit-taking is pressuring MRNA after its outsized run; Moderna advanced much further than comparable biotech names, making it particularly vulnerable to selling before the data readout. Moderna Tumbles as Profit Taking Hits Cancer Vaccine Rally
- Negative Sentiment: Valuation and fundamental risks remain significant. Analysts highlight Moderna’s persistent losses and negative free cash flow, while several published price targets remain well below the stock’s current trading level. Upcoming third-quarter results on November 6 and Analyst Day on November 12 could increase event-driven volatility. Moderna Valuation and Outlook
Wall Street Analyst Weigh In
Several research analysts have issued reports on MRNA shares. Loop Capital set a $135.00 price objective on Moderna in a report on Wednesday, August 19th. Wolfe Research upgraded Moderna from an “underperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. Citigroup cut shares of Moderna from a “neutral” rating to a “sell” rating and increased their target price for the stock from $60.00 to $80.00 in a report on Wednesday, September 30th. Argus upgraded Moderna from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Friday, August 28th. Finally, Bank of America increased their price objective on Moderna from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 9th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Moderna has an average rating of “Hold” and an average price target of $101.45.
View Our Latest Stock Analysis on Moderna
Moderna Stock Performance
The firm has a market capitalization of $85.21 billion, a P/E ratio of -26.67 and a beta of 1.09. The stock has a fifty day simple moving average of $153.48 and a two-hundred day simple moving average of $89.98. 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 – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported ($1.97) EPS for the quarter, beating analysts’ consensus estimates of ($2.03) by $0.06. Moderna had a negative net margin of 141.43% and a negative return on equity of 28.30%. The business had revenue of $145.00 million during the quarter, compared to analyst estimates of $102.93 million. During the same quarter in the previous year, the business posted ($2.13) EPS. Moderna’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts predict that Moderna, Inc. will post -6.11 EPS for the current year.
Insider Buying and Selling
In other Moderna news, insider Shannon Klinger sold 3,471 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total value of $485,766.45. Following the completion of the transaction, the insider directly owned 74,129 shares of the company’s stock, valued at $10,374,353.55. This trade represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James M. Mock sold 34,836 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $134.49, for a total value of $4,685,093.64. Following the completion of the transaction, the chief financial officer directly owned 59,375 shares in the company, valued at approximately $7,985,343.75. This represents a 36.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 118,882 shares of company stock valued at $16,862,280. 10.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On Moderna
Several institutional investors and hedge funds have recently bought and sold shares of MRNA. Merck & Co. Inc. bought a new position in shares of Moderna during the second quarter valued at approximately $161,642,545. Louisiana State Employees Retirement System bought a new position in shares of Moderna during the first quarter valued at approximately $899,000. Bank of New York Mellon Corp purchased a new position in Moderna during the second quarter valued at $119,168,000. Contravisory Investment Management Inc. boosted its stake in Moderna by 1,387.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 24,218 shares of the company’s stock worth $1,696,000 after purchasing an additional 22,590 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Moderna during the second quarter valued at approximately $1,013,000. 75.33% of the stock is currently owned by institutional investors.
About Moderna
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.