Billionaire Stanley Druckenmiller Just Dumped These 5 Stocks

3. Moderna, Inc. (NASDAQ:MRNA)

Number of Hedge Fund Shareholders: 43

Moderna, Inc. (NASDAQ:MRNA) is another stock that hedge funds soured on during Q4, as 12% of its former shareholders sold off the stock, including Duquesne Capital. The family office sold off all 85,971 shares it owned from the stake it built-in Q2 2021.

It’s not just hedge funds who think Moderna, Inc. (NASDAQ:MRNA) has become overvalued either, as our list titled Analysts Think These 5 Stocks Are Overvalued featured the biotech company. In fact, Bank of America analyst Geoff Meacham called Moderna’s shares “ridiculously” overvalued back in August and expected the stock to pull back by 75%, which it’s nearly done in the months since, sliding by 61%.

Nonetheless, Carillon Tower Advisers was a fan of Moderna, Inc. (NASDAQ:MRNA) even at its much higher valuation back in Q3, having this to say about the company in its Q3 2021 investor letter:

“Moderna is a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines. The stock proved to be an impressive contributor once again in the quarter, as investors continue to evaluate the potential for future growth driven primarily by the firm’s revolutionary COVID-19 vaccine. Strong global demand for the vaccine may persist for the foreseeable future in order to maintain immunity as well as provide protection against any additional future variants. The potential for the firm’s mRNA technology to be used in a number of other use cases, specifically influenza, could also provide an additional tailwind for future growth.”