Moderna Inc (NASDAQ:MRNA) Short Interest Up 60.0% in September

Moderna Inc (NASDAQ:MRNA) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 24,030,000 shares, a growth of 60.0% from the August 30th total of 15,020,000 shares. Approximately 12.5% of the company’s shares are sold short. Based on an average daily trading volume, of 2,450,000 shares, the short-interest ratio is presently 9.8 days.

Several equities research analysts have weighed in on MRNA shares. Morgan Stanley set a $30.00 price target on shares of Moderna and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $24.00 price target on shares of Moderna in a research report on Sunday, August 11th. ValuEngine cut shares of Moderna from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Chardan Capital reissued a “buy” rating on shares of Moderna in a research report on Sunday, September 15th. Finally, Zacks Investment Research raised shares of Moderna from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Moderna has an average rating of “Buy” and an average target price of $26.30.

MRNA traded down $0.11 during trading on Friday, hitting $14.06. 900,363 shares of the stock traded hands, compared to its average volume of 4,444,833. The company has a 50-day moving average price of $15.88. Moderna has a 12-month low of $11.54 and a 12-month high of $29.79. The company has a market cap of $4.69 billion and a price-to-earnings ratio of -2.84.

Moderna (NASDAQ:MRNA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.01. The company had revenue of $13.08 million during the quarter, compared to analysts’ expectations of $18.80 million. Research analysts expect that Moderna will post -1.68 earnings per share for the current fiscal year.

About Moderna

Moderna, Inc, a clinical stage biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, and cardiovascular diseases. As of February 15, 2019 the company had 11 programs in clinical trials and a total of 20 development candidates in six modalities comprising prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.

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