What's Going On With Moderna (MRNA) Stock?
Portfolio Pulse from Henry Khederian
Moderna Inc (NASDAQ:MRNA) stock fell by 4.5% to $74.50 amid a broader sell-off in COVID vaccine stocks triggered by Pfizer Inc.'s FY24 guidance, which was below consensus estimates. Pfizer's guidance included projections from the Seagen Inc acquisition. Investors are reassessing expectations for companies like Moderna, leading to a decline in their stock prices. Moderna has a 52-week range between $217.25 and $62.55.
December 13, 2023 | 6:30 pm
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NEGATIVE IMPACT
Moderna's stock price dropped following Pfizer's lower-than-expected FY24 guidance, indicating market concern over future revenue for COVID vaccine manufacturers.
Moderna's stock price is likely to be negatively impacted in the short term due to Pfizer's disappointing FY24 guidance, which has led to a reassessment of the revenue potential for COVID vaccine manufacturers. As Moderna is directly in the same market segment, investor sentiment is expected to be bearish, reflecting concerns over similar revenue challenges.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80