Why Moderna Stock Blasted 13% Higher Today
(NASDAQ: MRNA) was a fine stock to heal an ailing portfolio on the second-to-last trading day of the week. The company, which developed and sells the Spikevax COVID-19 vaccine, saw its share price balloon by almost 13% thanks to an encouraging set of quarterly results. With that rise, it easily topped the 0.9% bump of the S 500 index on the day.
Moderna's opening quarter of 2024 saw the company reap $167 million in revenue, less than a tenth of the nearly $1.9 billion it made in the same period of 2023. The key reason why was simple and entirely expected: We're well past the peak of the Covid pandemic, after all, and there has been a sharp drop-off in demand for vaccines like Spikevax.
Consequently, the company posted a rather deep headline net loss of almost $1.2 billion, or $3.07 per share, against the year-ago profit of $79 million ($0.19).
Source Fool.com
Moderna Inc. Stock
Our community is currently high on Moderna Inc. with 11 Buy predictions and 8 Sell predictions.
On the other hand, the target price of 21 € is below the current price of 51.17 € for Moderna Inc., so the potential is actually -58.96%.
