Moderna (MRNA) Stock Rises 4% on Melanoma Vaccine Data and COVID Approval
TLDR
- Moderna stock rose 3.6% on Tuesday to around $145.40, with trading volume 79% below average.
- Moderna and Merck posted positive late-stage results for their personalized mRNA melanoma vaccine.
- The U.S. approved Moderna’s updated COVID-19 vaccine, adding to investor confidence.
- Wall Street consensus remains “Hold” with an average price target of $80.53, well below current trading levels.
- GSK is advancing its own mRNA flu vaccine into Phase III, posing a potential competitive threat.
Moderna stock jumped 3.6% on Tuesday, trading as high as $143.74 before closing around $145.40. Volume was unusually quiet at around 2.4 million, down 79% from the average daily volume of over 11 million.
Two pieces of news drove the move. First, Moderna and Merck reported encouraging Phase 3 results for their personalized mRNA melanoma vaccine. The data lifted hopes that Moderna’s oncology pipeline could become a meaningful revenue driver beyond COVID.
Second, U.S. regulators approved Moderna’s updated COVID-19 vaccine, giving the company a commercial product heading into the fall respiratory season.
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