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Moderna Inc (NASDAQ:MRNA) stock is trading sharply lower on Monday afternoon as recent clinical setbacks overshadowed positive pipeline news.
What To Know: The decline continues despite Moderna’s announcement on Monday that it dosed the first patient in a Phase 1/2 study for mRNA-2808, its investigational T-cell engager for multiple myeloma.
This positive step was tempered by the fallout from the company’s Oct. 23 update, when it announced it was stopping the Phase 3 trial for its cytomegalovirus vaccine, mRNA-1647, after it failed to meet its primary efficacy endpoint. That news prompted several analyst actions, including a target cut to $40 by UBS and a $25 target from JPMorgan, which maintained an Underweight rating.
Investors are now focused on the company's earnings report, due Thursday. Consensus estimates project a quarterly loss of approximately $2.15 per share on revenue of about $860 million.
Benzinga Edge Rankings: According to Benzinga Edge Rankings, Moderna currently has a momentum score of 12.67 and shows a negative price trend for the medium and long term.
MRNA Price Action: Moderna shares were down 8.49% at $24.86 at publication on Monday, according to Benzinga Pro data.
Read Also: Nvidia, Amazon Extend Rally, Bitcoin Sinks To $107,000: What’s Moving Markets Monday?
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.
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Posted In: MRNA
