Moderna (MRNA) presents an interesting profile when examining various Fintel data points, particularly concerning institutional sentiment and market microstructure.
Institutional Ownership Trends
Institutional ownership in Moderna remains substantial, with 1257 institutions holding a total of 296,202,081 shares, representing 76.13% of the outstanding shares (excluding 13D/G filings).1 However, there has been a slight decrease in institutional shares held (-0.79%) and a more notable reduction in the number of institutional owners (-7.62%) in the most recent quarter.1 Major holders include Vanguard Group Inc, BlackRock, Inc., and Baillie Gifford & Co.1 This mixed signal suggests some re-evaluation by institutional investors, which can be further explored through Fintel's Fund Sentiment Score.1
Short Interest and Market Speculation
Moderna currently shows a significant level of short interest. Approximately 66.24 million shares are shorted, which accounts for 18.23% of the float.2 The Days to Cover ratio stands at 6.90, indicating that it would take nearly seven trading days for short sellers to cover their positions, which could amplify price movements during periods of high demand.2 Furthermore, the off-exchange short volume ratio is notably high at 55.67%, suggesting considerable shorting activity occurring outside of traditional exchanges.2
Options Market Activity
The options market for MRNA offers additional insights into speculative sentiment. Fintel provides tools to track real-time options flow, unusual trades, and gamma exposure, which can reveal significant bullish or bearish positioning by sophisticated traders.1 Analyzing the put/call open interest ratio can help gauge the overall sentiment of actively managed funds, as passively managed funds typically do not engage in options trading.1
Recent Performance Context
It's worth noting that MRNA's stock price experienced a significant decline over the past year, dropping by 67.55% from $82.30 on August 6, 2024, to $26.71 on August 6, 2025.1 This historical context is crucial when evaluating current institutional and short interest positions.
