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On Thursday, Cathie Wood-led Ark Invest made a significant move by offloading shares of Moderna Inc (NASDAQ:MRNA). This decision comes amidst a backdrop of mixed analyst sentiments and Moderna’s recently unveiled post-COVID roadmap.
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The Moderna Trade
Ark Invest’s ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (NYSE:ARKK) sold a total of 160,994 shares of Moderna. The value of the trade, based on Moderna’s closing price of $56.83 on the day of the trade, is approximately $9.15 million.
Moderna’s stock has been under scrutiny following its recent announcement of a revised financial plan and updates to its mRNA-based pipeline. CEO Stéphane Bancel highlighted the company’s success in respiratory vaccines and outlined a focus on five non-respiratory products aiming for approvals by 2027.
However, the biotech company’s future prospects have elicited mixed reactions from analysts. Over the past three months, 16 analysts have shared their evaluations, with the average 12-month price target standing at $111.50, a decrease of 18.06% from the previous average.
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Other Key Trades:
ARK Autonomous Technology & Robotics ETF (ARKQ) bought 3,589 shares of Advanced Micro Devices Inc (AMD) worth $589,242.
Ark Invest’s ARKG and ARKK bought a total of shares of 10X Genomics Inc (TXG).
ARKK also purchased shares of CRISPR Therapeutics AG (CRSP).
Blade Air Mobility Inc (BLDE), and 3D Systems Corp (DDD) while selling shares of Materialise NV (MTLS) and Markforged Holding Corp (MKFG).
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This article Cathie Wood’s Ark Invest Dumps Over $9M In Moderna Stock — Even With Post-COVID Plans On The Table originally appeared on Benzinga.com