5 Most Undervalued NASDAQ Stocks To Buy According To Hedge Funds

In this article, we discuss 5 most undervalued NASDAQ stocks to buy according to hedge funds. If you want to see more stocks in this selection, 15 Most Undervalued NASDAQ Stocks To Buy According To Hedge Funds. 

5. Moderna, Inc. (NASDAQ:MRNA)

Number of Hedge Fund Holders: 44

P/E Ratio as of January 24: 6.97

Moderna, Inc. (NASDAQ:MRNA) is an American pharmaceutical and biotechnology company that discovers, develops, and commercializes messenger RNA therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases in the United States, Europe, and internationally. On January 4, Moderna, Inc. (NASDAQ:MRNA) announced its acquisition of OriCiro Genomics, a Tokyo-based company that specializes in cell-free synthesis and amplification of plasmid DNAs. The acquisition is intended to strengthen Moderna, Inc. (NASDAQ:MRNA)’s mRNA manufacturing capabilities. It is one of the most undervalued NASDAQ stocks to invest in according to hedge funds.

On January 18, Chardan analyst Geulah Livshits raised the price target on Moderna, Inc. (NASDAQ:MRNA) from $191 to $208, and maintained a Neutral rating on the company’s shares. This update comes after Moderna, Inc. (NASDAQ:MRNA) announced that its respiratory syncytial virus (RSV) vaccine, mRNA-1345, met primary efficacy endpoints in an interim analysis of the phase III ConquerRSV trial in older adults. This suggests that the vaccine could be effective in preventing RSV in older adults.

According to Insider Monkey’s data, 44 hedge funds were long Moderna, Inc. (NASDAQ:MRNA) at the end of Q3 2022, compared to 45 funds in the prior quarter. Patrick Degorce’s Theleme Partners is the largest stakeholder of the company, with 6 million shares worth $710 million. 

Here is what Baron Funds said about Moderna, Inc. (NASDAQ:MRNA) in its Q3 2022 investor letter:

“Within biotechnology, underperformance of Moderna, Inc. (NASDAQ:MRNA) and lower exposure to this better performing sub-industry weighed the most on relative performance. Shares of Moderna, a leader in the emerging field of mRNA-based vaccines and therapeutics, declined due to increasing uncertainty around what a booster market could look like as COVID shifts away from pandemic status and becomes an increasingly commercial market rather than government funded.”