Hudson Bay Capital Management Reduces Moderna Stake

Hedge fund cuts position in COVID-19 vaccine maker by 26.7%

Mar. 23, 2026 at 8:33am

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Hudson Bay Capital Management LP, an institutional investor, reduced its stake in Moderna, Inc. (NASDAQ:MRNA) by 26.7% during the third quarter, according to a recent 13F filing with the Securities & Exchange Commission. The hedge fund now owns 55,000 shares of the COVID-19 vaccine maker's stock, worth approximately $1.42 million.

Why it matters

Moderna's mRNA-based COVID-19 vaccine was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions. As a result, the company's stock has been closely watched by investors. Hudson Bay Capital's reduction in its Moderna position could signal a shift in sentiment around the stock.

The details

According to the 13F filing, Hudson Bay Capital sold 20,000 shares of Moderna stock during the third quarter, reducing its total position to 55,000 shares. The hedge fund's holdings in Moderna were worth $1.42 million as of the most recent filing.

  • Hudson Bay Capital filed the 13F report disclosing the stake reduction in the third quarter of 2026.

The players

Hudson Bay Capital Management LP

An institutional investor and hedge fund that has reduced its stake in Moderna, Inc.

Moderna, Inc.

A biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines, including the first mRNA-based COVID-19 vaccine to receive emergency use authorization and full approval.

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The takeaway

Hudson Bay Capital's reduction in its Moderna position could signal a shift in investor sentiment around the COVID-19 vaccine maker's stock, as the company's mRNA-based vaccine has been a major driver of its recent success.