Bernstein Sees Potential in Moderna with Market Perform Rating
Fintel reports that on October 17, 2024, Bernstein initiated coverage of Moderna (XTRA:0QF) with a Market Perform recommendation.
Price Forecast Signals 80.55% Growth Opportunity
According to the latest data from September 25, 2024, the average one-year price target for Moderna is 94.99 €/share. Predictions vary significantly, with a low target of 42.44 € and a high of 228.28 €. This average price indicates a potential increase of 80.55% from the company’s most recent closing price of 52.61 €/share.
Strong Fund Involvement in Moderna
The sentiment among funds shows increasing interest in Moderna, with 1,638 institutions reporting holdings. This marks a rise of 33 new positions, or 2.06%, in the previous quarter. The average weight of all funds in Moderna is 0.28%, up by 2.30%. Moreover, total shares held by institutions increased by 2.74% over the past three months, now totaling 276,199K shares.
Institutional Investors Adjust Their Holdings
Baillie Gifford currently holds 43,449K shares, which is 11.30% of Moderna. This number reflects a decrease from 44,656K shares reported in the last filing, showing a decline of 2.78%. Despite this, the firm boosted its allocation in Moderna by 8.60% over the last quarter.
Meanwhile, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 10,907K shares, representing 2.84% ownership. This is an increase from the previous 10,801K shares, marking a growth of 0.98%, with a portfolio allocation rise of 9.44% in the last quarter.
VWIGX – Vanguard International Growth Fund Investor Shares holds 9,029K shares, which is 2.35% of Moderna. The earlier report showed that it owned 9,151K shares, reflecting a decrease of 1.35%, but the firm raised its portfolio allocation in Moderna significantly by 49.46% last quarter.
Also, VFINX – Vanguard 500 Index Fund Investor Shares holds 8,558K shares, equating to 2.23% ownership. This is an increase from the previous 8,359K shares, reflecting a 2.31% growth in holdings, alongside a 7.99% increase in portfolio allocation.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares owns 7,388K shares, making up 1.92% of the company. It reported a decrease from 7,456K shares (a drop of 0.91%) but raised its portfolio allocation by 14.00% this past quarter.
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This story originally appeared on Fintel.
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