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Moderna Inc (NASDAQ:MRNA) shares are trading lower on Friday afternoon, giving back a portion of the gains seen on Thursday. Here’s what investors need to know.
What To Know: The stock spiked on Thursday following unconfirmed reports from STAT that suggested the company had been in discussions with at least one large drugmaker regarding a potential acquisition.
The optimism from the rumor appears to have been tempered by the company’s recent clinical and financial outlook. On Oct. 23, Moderna announced it was stopping its Phase 3 trial for its cytomegalovirus vaccine, mRNA-1647, after it failed to meet its primary efficacy endpoint.
The news prompted several analyst actions, including UBS maintaining a Buy but slashing its price target from $70 to $40, and JPMorgan maintaining an Underweight rating with a target cut to $25.
Investors are now looking ahead to the company’s earnings report on Nov. 6. Current estimates project a quarterly loss of $2.17 per share on revenue of $865.96 million.
Benzinga Edge Rankings: According to Benzinga Edge rankings, the stock has a Momentum score of 12.67 and shows positive short and medium-term price trends, though its long-term trend remains negative.
MRNA Price Action: Moderna shares were down 3.75% at $27.09 at the time of publication on Friday, according to Benzinga Pro data.
Read Also: Nasdaq 100 Rebounds, Amazon Jumps 10% On Strong Earnings: What’s Moving Markets Friday?
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For Moderna, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
Posted In: MRNA
