Growth Story Still Intact For Moderna Inc. (MRNA)

UPWK stock
UPWK stock

Fidelity Management & Research Co.. has recently announced that it has increased stake in Moderna Inc. (NASDAQ:MRNA) by 51.44%. After grabbing 37.49 million shares, the institutional investor is now in possession of 12.73 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.64% having worth around $2.78 billion. Moreover, The Vanguard Group, Inc. increased its share by 4.68 million to have a control over 25.07 million shares. And BlackRock Fund Advisors raised its holdings to 5.0 million shares by acquiring 16.55 million shares or 4.26% of the stake.

Moderna Inc. (MRNA) concluded trading on 08/27/20 at a closing price of $68.03, with 9.22 million shares of worth about $627.39 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 0.32% during that period and on Thursday the price saw a loss of about -3.50%. Currently the company’s common shares owned by public are about 380.53M shares, out of which, 315.89M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the MRNA stock and their offered price forecasts bring an average price target of $93.29. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $134.00 and could fall to a lowest price of $58.00. Analysts also issued an outlook of 1.90 for the Moderna Inc. stock for next 12 months. The stock’s current price level is 25.97% above of average price target set by the analysts, while a rise to estimated low would result in loss of -17.29 for the stock. However, touching the estimated high of $134.00 would mean a gain of 49.23% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 574 times over the past 12 months. They bought 3,229,080 shares in 72 of the transactions. In 502 selling transactions, insiders dumped 39,088,687 shares.

Fidelity Growth Company Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Moderna Inc. Fidelity Growth Company Fund is currently holding 15.87 million shares of worth totaling $1.18 billion. The company recently came buying 1.22 million shares which brought its stake up to 4.08% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 30904.0 shares, after which its hold over company’s outstanding shares shrunk to 1.99%, leaving 7.74 million shares with the mutual fund that have a worth of about $573.18 million. Vanguard Mid Cap Index Fund, after selling 6.68 million shares, have now control over 1.72% of the stake in the company. It holds 49231.0 shares of worth $495.06 million.

Moderna Inc. (NASDAQ: MRNA) started trading at $69.98, below -$0.52 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $68.03, or with a loss of -3.50%. Stock saw a price change of 0.32% in past 5 days and over the past one month there was a price change of -14.44%. Year-to-date (YTD), MRNA shares are showing a performance of 247.80% which increased to 359.04% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.53 but also hit the highest price of $95.21 during that period. While comparing its average daily trading volume of 22.63 million shares, we see that about 9.22 million changed hands on the day. The stock is currently trading -4.18% below its 20-day simple moving average (SMA20), while that difference is down -3.54% for SMA50 and it goes to 61.10% higher than SMA200.

Fidelity Management & Research Co.. acquired 37.49 million shares of Moderna Inc. having value of about $2.78 billion. Data submitted at the U.S SEC by Fidelity Management & Research Co.. revealed that the firm now holds 12.73 million shares in the company valued at close to $866340960.7, or have control over 51.44% stake in the company. Moderna Inc. (NASDAQ: MRNA) currently have 380.53M outstanding shares and institutions hold larger chunk of about 55.60% of that. Holding of mutual funds in the company is about 19.23% while other institutional holders and individual stake holders have control over 27.53% and 18.86% of the stake respectively.

The stock has a current market capitalization of $27.39B. It has posted earnings per share of -$1.40 in the same period. It has Quick Ratio of 17.30 while making debt-to-equity ratio of 0.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MRNA, volatility over the week remained 6.00% while standing at 5.19% over the month.

Analysts are in expectations that Moderna Inc. (MRNA) stock would likely to be making an EPS of -$0.44 in the current quarter, while forecast for next quarter ESPS is -$0.27 and it is $2.31 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.95 which is -$0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -27.10% while it is estimated to increase by 120.50% in next year.

Analysts at 15 brokerage firms have issued recommendations for the Moderna Inc. (MRNA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 15 Wall Street analysts, 12 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by SVB Leerink on July 23, 2020 offering a Mkt perform rating for the stock and assigned a target price of to it. Coverage by JP Morgan stated Moderna Inc. (MRNA) stock as a Neutral in their note to investors on July 20, 2020, suggesting a price target of $89 for the stock. On July 13, 2020, Jefferies Initiated their recommendations, while on June 30, 2020, Argus Initiated their ratings for the stock with a price target of $80. Stock get an Overweight rating from Barclays on June 08, 2020.


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