Goldman Sachs downgraded the vaccine maker to Neutral from Buy and slashed its stock-price target to $51 from $99 Wednesday.
Shares of Moderna Inc. (NASDAQ: MRNA) are down 3.2% in premarket trading after a bear note from Goldman Sachs.
Shares of vaccine maker Moderna fell Wednesday as Goldman Sachs lowered its rating after the biotech's second cut to product revenue guidance in six months.
In the latest trading session, Moderna (MRNA) closed at $41.66, marking a +0.6% move from the previous day.
Shares of Moderna (MRNA -2.31%) zoomed as much as 33.3% higher this week, according to data from S&P Global Market Intelligence.
Based on its share price, down 75% in the last three years, it's easy to write off Moderna (MRNA -2.31%) as a biotech that'll never recover its former glory -- which it built on the success of its coronavirus vaccine program. But where there are widespread bearish sentiments about a stock, there's also often an opportunity for investors who are willing to focus on the long term and appreciate that things won't always be like they are now.
Moderna is testing a norovirus vaccine in a phase three trial, with results available as soon as this year. Norovirus cases are on the rise this winter, with outbreaks already up more than 30% by December, per data from the Centers for Disease Control and Prevention.
Moderna stock surged Wednesday after Oracle Chairman Larry Ellison praised the potential of AI in developing medicines. The post Moderna Surges After Larry Ellison Calls Out The Potential Of AI In Cancer Vaccines appeared first on Investor's Business Daily.
Biotechnology company Moderna Inc. NASDAQ: MRNA gained the spotlight in the medical sector as a leader in the race toward a COVID-19 vaccine. Its messenger RNA (mRNA) technology garnered acclaim as a next-generation therapy.
Eva Ados, ERshares COO and chief investment strategist, joins CNBC's 'Power Lunch' to share outlooks on three stocks.
Tuesday, Moderna Inc MRNA stock is trading higher with a session volume of 8.0 million as per data from Benzinga Pro.
Shares of Moderna (MRNA) took off Tuesday when the biotech firm announced that the U.S. government has awarded it more than a half a billion dollars to develop a vaccine that can be used against bird flu.