Cigna Investments Inc. New Reduces Stock Position in Moderna, Inc. (NASDAQ:MRNA)

02 Jan 2024, 11:32 by Sarita Garza · The Markets Daily

Cigna Investments Inc. New cut its stake in Moderna, Inc. (NASDAQ:MRNA – Free Report) by 11.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,576 shares of the company’s stock after selling 460 shares during the period. Cigna Investments Inc. New’s holdings in Moderna were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in MRNA. RB Capital Management LLC grew its position in shares of Moderna by 7.5% in the first quarter. RB Capital Management LLC now owns 2,267 shares of the company’s stock valued at $391,000 after purchasing an additional 158 shares in the last quarter. Synovus Financial Corp grew its position in shares of Moderna by 8.0% in the first quarter. Synovus Financial Corp now owns 4,049 shares of the company’s stock valued at $704,000 after purchasing an additional 300 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Moderna by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 987,478 shares of the company’s stock valued at $170,121,000 after purchasing an additional 47,755 shares in the last quarter. Blair William & Co. IL grew its position in shares of Moderna by 12.4% in the first quarter. Blair William & Co. IL now owns 15,611 shares of the company’s stock valued at $2,689,000 after purchasing an additional 1,724 shares in the last quarter. Finally, Sei Investments Co. grew its position in Moderna by 41.4% in the first quarter. Sei Investments Co. now owns 58,160 shares of the company’s stock worth $10,019,000 after acquiring an additional 17,031 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shannon Thyme Klinger sold 563 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $79.09, for a total value of $44,527.67. Following the sale, the insider now directly owns 7,912 shares in the company, valued at $625,760.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Moderna news, insider Shannon Thyme Klinger sold 563 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $79.09, for a total value of $44,527.67. Following the sale, the insider now directly owns 7,912 shares in the company, valued at $625,760.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arpa Garay sold 564 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $78.34, for a total value of $44,183.76. Following the completion of the sale, the insider now owns 3,690 shares in the company, valued at $289,074.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,985 shares of company stock worth $14,002,756. Corporate insiders own 15.70% of the company’s stock.

Moderna Stock Up 0.7 %

Shares of NASDAQ MRNA opened at $99.45 on Tuesday. The stock has a market cap of $37.92 billion, a P/E ratio of -10.64 and a beta of 1.65. The company has a current ratio of 2.46, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. Moderna, Inc. has a 12-month low of $62.55 and a 12-month high of $207.51. The business’s fifty day simple moving average is $80.80 and its 200-day simple moving average is $99.88.

Moderna (NASDAQ:MRNA – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The company reported ($1.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.62. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Moderna had a negative return on equity of 2.14% and a negative net margin of 38.00%. As a group, equities analysts predict that Moderna, Inc. will post -5.85 EPS for the current fiscal year.

Analysts Set New Price Targets

MRNA has been the subject of several analyst reports. HSBC upgraded Moderna from a “reduce” rating to a “hold” rating and lowered their price objective for the stock from $89.00 to $69.00 in a research report on Friday, November 3rd. Canaccord Genuity Group initiated coverage on Moderna in a research report on Wednesday, November 29th. They issued a “hold” rating and a $82.00 price objective for the company. Argus lowered their price objective on Moderna from $160.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 13th. Canaccord Genuity Group initiated coverage on Moderna in a research report on Wednesday, November 29th. They issued a “hold” rating and a $82.00 price objective for the company. Finally, TheStreet lowered Moderna from a “c” rating to a “d” rating in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Moderna currently has an average rating of “Hold” and a consensus price target of $129.07.

Read Our Latest Stock Analysis on MRNA

Moderna Profile

(Free Report)

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, 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; and public health vaccines consists of Zika and Nipah vaccines.

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