CAMBRIDGE, MA—Stephen Hoge, President of Moderna , Inc. (NASDAQ:MRNA), recently reported the sale of company stock valued at approximately $12,451. The transaction, disclosed in a recent SEC filing, involved the sale of 291 shares at an average price of $42.7891 per share. This move was part of a "sell to cover" transaction, mandated to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The sale comes as Moderna's stock has experienced significant volatility, with shares down nearly 70% over the past six months and currently trading at $44.26, well below their 52-week high of $170.47.
In addition to the sale, Hoge acquired 610 shares of common stock through the conversion of RSUs, which were acquired at no cost. Following these transactions, Hoge holds 1,443,858 shares directly. Additionally, he holds indirect ownership of 4,116 shares through Valhalla, LLC, and 151,933 shares via a trust benefiting his spouse and children. According to InvestingPro analysis, which offers 13 additional investment tips for Moderna, the company currently maintains a market capitalization of $17.1 billion and holds more cash than debt on its balance sheet. These transactions reflect routine adjustments related to equity incentive plans rather than discretionary trading decisions by Hoge.
In other recent news, Moderna has been at the center of several significant developments. The biotechnology company reported robust third-quarter financial performance in 2024, with revenues reaching $1.9 billion and a net income of $13 million. Despite the challenges faced with its Respiratory Syncytial Virus (RSV) vaccine, mRESVIA, Moderna maintains its annual product sales estimate between $3 billion to $3.5 billion.
Analysts from Berenberg, Piper Sandler, and TD Cowen have also provided their perspectives on the company's financial outlook. Berenberg initiated coverage on Moderna with a Hold rating, citing concerns over the company's medium-term financial goals. Piper Sandler, while lowering its price target for Moderna to $69, maintained an Overweight rating, seeing potential in Moderna's future. TD Cowen also revised its price target for Moderna, lowering it to $55 but keeping a Hold rating.
Moderna's mRESVIA vaccine gained approval in Canada, marking another significant milestone for the company. Additionally, Moderna plans to release eight new vaccines by 2028, which Piper Sandler anticipates will boost sales after a projected low in 2025. These recent developments underscore Moderna's ongoing progress and potential for growth.
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