Why Moderna Stock Was Cratering This Week
(NASDAQ: MRNA), a star stock during the pandemic era, continues to struggle in a world that seems to be moving past COVID-19. According to data compiled by S&P Global Market Intelligence, the biotech's shares were down by over 10% week to date as of Thursday night. A disappointing earnings report published at the start of the month continued to reverberate negatively for the company.
Moderna's great disadvantage is that it has only one commercialized product, the go-to coronavirus vaccine Spikevax. It was a hot item during the pandemic, but its sales have faded even more quickly than COVID cases and fatality rates lately. This was a key reason the company posted a monster $3.6 billion-plus net loss in the aforementioned earnings report, accompanied by a nearly 50% year-over-year drop in revenue.
This week, in the wake of those quarterly results, numerous analysts were in an unforgiving mood with Moderna. Several cut their price targets on the stock.
Source Fool.com
Moderna Inc. Stock
Currently there is a rather positive sentiment for Moderna Inc. with 11 Buy predictions and 8 Sell predictions.
However, we have a potential of -58.96% for Moderna Inc. as the target price of 21 € is below the current price of 51.17 €.
