Moderna, Inc.
At today's price, Moderna, Inc. (MRNA) is priced for today's economics sustained for ~15.6 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
At $63.93 (as of June 27, 2026) Moderna trades around 11.6x revenue while losing money at scale, with a current operating margin near negative 153%. The price implies the business eventually earns a roughly 22% operating margin and grows at its self-funding ceiling for about 13 years, an elevated bet on a future not yet visible in the numbers. The counterintuitive strength is the runway. Moderna ended Q1 2026 with about $7.5 billion in cash and investments and cut roughly $2.2 billion of annual
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698 institutional managers reported holding MRNA in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 52%. 131 opened new positions that quarter. Held by FMR (Fidelity), Vanguard Group, BlackRock, among others. On the short side, 58.7M shares were sold short as of the 2026-06-15 count, about 15% of shares outstanding (10.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MRNA has cut its share count 1.7% over the past five years, spending $5.34B on repurchases. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MRNA over the trailing three years: 2025: 3 buys totaling $6.01M. 10 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MRNA's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -1.8% | -4.0% |
| 2023-11-04 | +1.8% | +43.3% |
| 2024-02-24 | +10.1% | +11.9% |
| 2024-05-03 | +12.2% | -5.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MRNA's latest 8-K filings: 2026-07-08 (items 5.02, 7.01, 9.01); 2026-05-11 (items 5.03, 5.07, 9.01); 2026-05-01 (items 2.02, 9.01); 2026-03-05 (items 1.01); 2026-02-13 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: July 3, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.