Moderna shares are trading lower after the company announced changes to its operating model to bring focus to its short- and long-term business goals.
Portfolio Pulse from Benzinga Newsdesk
Moderna's stock price fell 5.5% to $77.51 following the announcement of changes to its operating model aimed at aligning with its business goals. Additionally, the company's Chief Commercial Officer has stepped down, and Morgan Stanley has reduced its target price for Moderna to $92.
December 12, 2023 | 7:34 pm
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Moderna's stock declined due to operational model changes, the departure of its Chief Commercial Officer, and a lowered target price by Morgan Stanley.
The decline in Moderna's stock price is likely due to investor concerns over the announced operational changes and the impact of the CCO's departure on the company's commercial strategy. The reduced target price by Morgan Stanley may also contribute to negative sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100