Summary
- Moderna posted strong clinical results that failed to lift shares.
- Phase 3 results will follow over the next two years.
- Analysts have a bullish price target.
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After predicting that Moderna (MRNA) would have trouble trading at $100 a few months ago and then going nowhere next, readers may think this update will turn bearish.
It will not.
Investors should have expected the bearish selling on Moderna, Novavax (NVAX), and especially Sorrento (SRNE) and Inovio Pharmaceuticals (INO). Markets honed in their frenzied buying on the electric vehicle segment and cloud-computing technology stocks. Plus, clinical results from the vaccine players no longer give the biotechnology stocks a reason to bid shares higher. The “sell on the news” cycle happened faster than ever before. So, as Moderna’s Phase III trial tests continue, what happens to its share price in the near term?
Data courtesy of Moderna
Importantly, the second vaccination resulted in a response in all age groups. The age group that benefits the most from a vaccine responded with the symptoms listed below.
With all groups exceeding the median of convalescent sera, subjects demonstrate an immune response. As this astute reader posted, “this vaccine is harmless because of it's [sic] simple design (a plasmid + lipid nanoprotein + genetic code for Covid-19 spike protein). There is no irritant added to make the vaccine work better; no dead virus to cause adverse effects later.”
