Why Moderna Stock Dropped Today
Shares of Moderna (NASDAQ: MRNA) fell 6.9% on Wednesday, following a cautionary note from analysts at a respected investment bank.
Morgan Stanley analyst Matthew Harrison cut his rating on Moderna's stock from overweight to equal weight, though he raised his price forecast from $100 to $150. Harrison sees more long-term upside ahead, but he cautioned that investors' near-term expectations may be too high.
Moderna's stock price may have gotten ahead of itself, according to analysts at Morgan Stanley. Image source: Getty Images.
Source Fool.com
