Fidelity Management & Research Co.. recently announced the acquisition of new stake in Moderna Inc. (NASDAQ:MRNA). The institutional investor has increased its shareholding in the Healthcare company by 51.44% to 37.49 million shares with purchase of 12.73 million shares. This fresh investment now brings its stake to 9.64% valued currently at $2.78 billion. In addition, The Vanguard Group, Inc. raised its holdings by 4.68 million to 25.07 million shares. And BlackRock Fund Advisors has lifted its position by 43.26% or 5.0 million shares – to 16.55 million shares.
With over 15.21 million Moderna Inc. (MRNA) shares trading Monday and a closing price of $64.89 on the day, the dollar volume was approximately $987.03 million. The shares have shown a positive weekly performance of 0.02% and its price on 08/31/20 lost nearly -3.85%. Currently, there are 380.53M common shares owned by the public and among those 315.84M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for MRNA have a consensus price objective of $93.29. The analysts have set the share’s price value over the next 12 months at a high of $134.00 and a low of $58.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Moderna Inc. stock is 1.90 for the next 12 months. The average price target is 29.39% above its last price level and an upside to the estimated low will see the stock lose -11.88% over that period. But an upside of 51.57% will see the stock hit the forecast high price target while mean target price for the stock is $92.00.
Insiders at the company have transacted a total of 574 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 72 of these insider trades were purchases, accounting for 3,229,080 shares. Insider sales of the common stock occurred on 502 occasions, with total insider shares sold totaling 39,088,687 shares.
The top 3 mutual fund holders in Moderna Inc. are Fidelity Growth Company Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. Fidelity Growth Company Fund owns 15.87 million shares of the company’s stock, all valued at over $1.18 billion. The company bought an additional 1.22 million shares recently to bring their total holdings to about 4.08% of the shares outstanding. Vanguard Total Stock Market Index sold 30904.0 shares to see its total holdings shrink to 7.74 million shares valued at over $573.18 million and representing 1.99% of the shares outstanding. Vanguard Mid Cap Index Fund sold 49231.0 shares to bring its total holdings to over 6.68 million shares at a value of $495.06 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.72% of the shares outstanding.
Shares of Moderna Inc. (NASDAQ: MRNA) opened at $67.14, down -$0.35 from a prior closing price of $67.49. However, the script later closed the day at $64.89, down -3.85%. The company’s stock has a 5-day price change of 0.02% and 8.38% over the past three months. MRNA shares are trading 231.75% year to date (YTD), with the 12-month market performance up to 312.52% higher. It has a 12-month low price of $13.53 and touched a high of $95.21 over the same period. Currently, 15.21 million shares have been traded, compared to an average intraday trading volume of 21.46 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.55%, -8.18%, and 51.86% respectively.
Institutional ownership of Moderna Inc. (NASDAQ: MRNA) shares accounts for 55.60% of the company’s 380.53M shares outstanding. Mutual fund holders own 19.25%, while other institutional holders and individual stakeholders account for 27.53% and 18.86% respectively.
It has a market capitalization of $25.81B. The earnings-per-share (ttm) stands at -$1.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.70% over the week and 5.21% over the month.
Analysts forecast that Moderna Inc. (MRNA) will achieve an EPS of -$0.44 for the current quarter, -$0.27 for the next quarter and $2.31 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.95 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was -$0.37 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.10%, and 120.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Moderna Inc. (MRNA) as a “Strong Buy” at a consensus score of 1.90. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 3 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MRNA, a number of firms have released research notes about the stock. SVB Leerink stated their Mkt Perform rating for the stock in a research note on July 23, 2020, with the firm’s price target at. JP Morgan coverage for the Moderna Inc. (MRNA) stock in a research note released on July 20, 2020 offered a Neutral rating with a price target of $89. Jefferies was of a view on July 13, 2020 that the stock is Buy, while Argus gave the stock Buy rating on June 30, 2020, issuing a price target of $80. Barclays on their part issued Overweight rating on June 08, 2020.