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Why Moderna Stock Is Falling Today

TheMotleyFool

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Why Moderna Stock Is Falling TodayPhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

Shares of Moderna (NASDAQ: MRNA) were falling 5.4% as of 11 a.m. EDT on Friday. The decline came after Deutsche Bank (NYSE: DB) initiated coverage on the stock with a sell rating. The investment firm set a price target for Moderna of $250, roughly 26% below the closing price on Thursday.

It's not surprising that the vaccine stock dropped after Deutsche Bank's announcement. What might be at least a little surprising is how much more pessimistic the firm is compared to many other Wall Street analysts. The consensus price target for Moderna is close to $340, roughly in line with the stock's closing price yesterday.

Image source: Getty Images.

Source Fool.com

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