Envestnet Asset Management Inc. has reduced its stake in Moderna, Inc. (NASDAQ:MRNA) by 40.3% during the first quarter, as detailed in its recent Form 13F filing with the Securities and Exchange Commission. Following this adjustment, the firm now holds 18,102 shares valued at approximately $513,000, after selling 12,212 shares within the quarter.
In addition to Envestnet, several major investors have adjusted their positions in Moderna recently. FMR LLC increased its holdings by 7.4% in the previous quarter, acquiring an additional 1,282,469 shares for a total of 18,664,634 shares valued at $776 million. Similarly, Theleme Partners LLP and Invesco Ltd. also raised their stakes, with Theleme increasing by 1.0% and Invesco by 24.3%. Northern Trust Corp and The Manufacturers Life Insurance Company also reported increases in their holdings, further indicating strong interest from institutional investors, who collectively own 75.3% of the stock.
As of the latest trading session, MRNA’s stock price opened at $27.47, reflecting a recent decline of 0.6%. The stock has experienced significant volatility over the past year, with a twelve-month low of $23.15 and a high of $91.99. Its market capitalization stands at $10.69 billion, and the company continues to be in the spotlight for both its innovative approaches in mRNA therapeutics and its recent earnings report, where it surpassed analysts’ expectations with a revenue of $142 million, despite reporting a loss.
Analyst feedback on Moderna has been mixed, with a consensus “Hold” rating from analysts and varying price targets indicating a cautious outlook. Overall, while the stock is facing challenges, ongoing interest from institutional investors and a robust pipeline of innovative vaccines offer a solid foundation for potential recovery and growth in the future.
The biotechnology sector continues to be a focus of significant investment and development, particularly as Moderna advances its research into numerous therapeutic areas beyond COVID-19 vaccines.