Spotlight on Moderna: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
A surge in options activity for Moderna (NASDAQ:MRNA) has been observed, with a bearish sentiment prevailing among big-money investors. Benzinga's options scanner revealed 17 unusual trades, with a split sentiment of 41% bullish and 58% bearish. The trades target a price range of $50.0 to $110.0 for Moderna. The company, known for its mRNA technology and COVID-19 vaccine, is currently trading at $93.33, with an RSI indicating it may be oversold. An earnings announcement is expected in 13 days, and an analyst from RBC Capital has set a price target of $125 with an Outperform rating.
February 09, 2024 | 4:00 pm
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NEUTRAL IMPACT
Moderna has seen significant options activity indicating a bearish sentiment among investors, despite an analyst from RBC Capital setting a price target of $125. The company is approaching an earnings announcement with its stock considered potentially oversold.
The bearish sentiment from options traders, despite a bullish analyst rating, creates uncertainty. The upcoming earnings announcement and the current oversold condition could lead to volatility. However, the mixed sentiment and the analyst's confidence in the stock suggest a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100