5 Worst Performing Healthcare Stocks in 2023

2. Moderna, Inc. (NASDAQ:MRNA)

YTD Share Price Decline as of August 13: 43.30% 

Number of Hedge Fund Holders: 40

Moderna, Inc. (NASDAQ:MRNA) is another leading pharmaceutical company that develops medicines and vaccines for autoimmune, cardiovascular, cancer, and other infectious diseases. On August 3, Moderna, Inc. (NASDAQ:MRNA) announced a Q2 GAAP loss per share of $3.62, along with a revenue of $344 million, outperforming Wall Street estimates by $0.48 and $38.44 million, respectively. However, the shares have plummeted over 43% year-to-date as of August 13, classifying Moderna, Inc. (NASDAQ:MRNA) as one of the worst performing healthcare stocks this year. 

According to Insider Monkey’s first quarter database, a total of 40 hedge funds were bullish on Moderna, Inc. (NASDAQ:MRNA). In comparison, 52 hedge funds held the stock during the previous quarter. Philippe Laffont’s Coatue Management was the largest shareholder in the company, with 6.5 million stocks valued at $1 billion. 

Baron Health Care Fund made the following comment about Moderna, Inc. (NASDAQ:MRNA) in its Q1 2023 investor letter:

“Moderna, Inc. (NASDAQ:MRNA) is a leader in the emerging field of mRNA-based vaccines and therapeutics and was one of the three main producers of the COVID vaccine. Shares fell during the quarter. We believe as COVID shifts away from pandemic status and becomes an increasingly commercial market (rather than government funded), there is increasing investor uncertainty around what a booster market could look like, which is pressuring shares. Looking beyond COVID, we think Moderna has the potential to disrupt the biopharmaceutical industry, from infectious disease vaccines to oncology, and we remain shareholders.”