Shannon Thyme Klinger, Chief Legal Officer at Moderna , Inc. (NASDAQ:MRNA), reported a recent stock transaction involving the sale of company shares. On December 3, Klinger sold 112 shares of Moderna's common stock at an average price of $43.30 per share, amounting to a total value of $4,849. The transaction comes amid significant market volatility for Moderna, with the stock down over 70% in the past six months and trading near its 52-week low of $35.80.
This sale was part of a "sell to cover" transaction, which was necessary to meet tax withholding obligations related to the vesting of restricted stock units (RSUs). These transactions are mandated by Moderna's equity incentive plans and do not represent discretionary trades by Klinger. Following this transaction, Klinger holds 19,837 shares in the company. According to InvestingPro analysis, Moderna currently appears undervalued, with 13 additional exclusive ProTips available to subscribers.
Additionally, on December 2, Klinger acquired 232 shares of common stock through the conversion of RSUs, which convert into common stock on a one-for-one basis. This acquisition was executed without any financial exchange. The company maintains strong liquidity with a current ratio of 4.39, though analysts have recently revised earnings expectations downward for the upcoming period.
In other recent news, Moderna has been the subject of various developments. The biotechnology firm's Q3 2024 financial performance reported revenues of $1.9 billion and a net income of $13 million. This comes amidst concerns from Berenberg about Moderna's ability to achieve its medium-term financial goals, primarily due to challenges within its respiratory vaccine franchise and high expenditure on research and development. Moderna's mRESVIA vaccine has received approval in Canada, marking a significant milestone for the company.
Analyst firms Berenberg, Piper Sandler, and TD (TSX:TD) Cowen have provided their perspectives on Moderna's stock. Berenberg initiated coverage on Moderna with a Hold rating, citing potential difficulties for the company in reaching a break-even status. Piper Sandler, while lowering its price target for Moderna to $69, maintained an Overweight rating, indicating potential growth for the company despite near-term market pressures. TD Cowen also revised its price target downward to $55 but kept a Hold rating.
Leerink Partners expressed skepticism regarding the success of Moderna's Phase 3 CMVictory study on cytomegalovirus (CMV), anticipated to have an interim update by the end of 2024. Moderna has revealed plans to release eight new vaccines by 2028, which analysts from Piper Sandler anticipate will boost sales after a projected low in 2025. Additionally, the company intends to purchase its Norwood campus for $400 million and awaits multiple vaccine approvals in the coming years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.