Moderna stock sinks as Wall Street turns cautious following blistering rally

What happened: Moderna (MRNA) stock tanked 9% on Friday.

What’s behind the move: The biotech giant sank as investors took profits and Wall Street grew cautious on the stock’s blistering rally of more than 600% year to date.

Goldman Sachs (GS) raised its target on the stock to $137 from $120 on Thursday while maintaining a Neutral rating, implying a more than 40% drop from current levels.

Morgan Stanley (MS) also has a Neutral rating, with a price target of $95. Meanwhile, Citi (C) analysts set an $80 target and a Sell rating on the stock last month, given its rapid run this year.

Wall Street is mostly neutral on the stock with 16 Hold, 5 Buys, and 4 Sell ratings.

213.00 -23.50 (-9.94%)

As of 11:40:15 AM EDT. Market Open.

What else you need to know: Shares of the biotech company rallied this year as the company is no longer valued solely on its declining COVID-19 vaccine business, but increasingly on its potential to become a major player in cancer treatment.

In August, Moderna announced positive Phase 3 results for its personalized cancer vaccine, developed in partnership with Merck (MRK), helping drive a sharp rally in the stock.

Cambridge, MA - June 26: A lab at the new Moderna headquarters outside Kendall Square. (Photo by David L. Ryan/The Boston Globe via Getty Images)
A lab at the new Moderna headquarters outside Kendall Square. (David L. Ryan/The Boston Globe via Getty Images) · Boston Globe via Getty Images

Ines Ferre is a senior business reporter for Yahoo Finance.

Click here for an in-depth analysis of the latest stock market news and events moving stock prices

Read the latest financial and business news from Yahoo Finance

Source link

Visited 1 times, 1 visit(s) today

Related Article

Apple Is Up Nearly 12X in 10 Years. Can It Repeat That Run?

Quick Read AAPL turned $10,000 into $127,753 over the last decade, but its $4.96T market cap limits the next 5-year base case to roughly $16,271. iPhone 17 revenue surged 22% to $54B and Services hit $30.7B, powering a record $109B June quarter for Apple. Valuation at 39x earnings, shrinking gross margins, and iPhone 18 Pro

CoreWeave’s rebound is getting tested — here are the levels bulls need to hold

CoreWeave (CRWV) sprang a bear trap Thursday. Now another sell-off is testing whether the bulls can hold their ground. The AI cloud provider’s shares are falling Friday after staging a dramatic reversal the previous session. Shares briefly broke below their summer floor near $60 on Thursday, sank to $59.51, then climbed to $69.76 — a

3 Reasons to Buy Silicon Motion Technology Before the End of 2026

It’s no secret that stocks connected to the AI industry have been some of the market’s top performers over the past year, but there are still a few that remain relatively under the radar. Silicon Motion Technology (NASDAQ: SIMO) is one of them. It produces NAND flash controllers, which are vital for AI infrastructure. That’s

Discounted Valuation Creates Entry Point in Global Luxury Leader LVMH Moët Hennessy – Louis Vuitton, Société Européenne (LVMUY)

Harris Oakmark recently released its third-quarter 2026 investor letter for its “Oakmark Global Select Fund”. It is a non-diversified fund that focuses on long-term capital appreciation by investing in common stocks of U.S. and non-U.S. companies. The letter can be downloaded here. The Fund (Investor Class) returned 5.14% for the quarter, surpassing the MSCI World

3 Japanese Financial Stocks With Direct Upside From Higher BOJ Rates

Japanese financials suddenly sit in the spotlight as the Bank of Japan hints at tighter policy and questions mount over how far inflation might run. Lending, insurance and balance sheets all feel different when rates move, and that can shift the story for specific stocks in a hurry. This article explains how that backdrop relates

AI Stock Sell-Off Gives Investors a New Place to Hide: Treasury Bonds

For much of 2026, a rough stretch in the stock market has been a double whammy. Investors have had to contend not only with stock losses, but bonds selling off, too. The dynamic upended the safety trade of rotating out of stocks and into Treasurys. It’s hard to diversify when there’s nowhere to hide. Why

Korean regulators face scrutiny as stock market volatility persists

Margin loans hit three-month high as market participants question effectiveness of regulators’ response Lee Eog-weon, chairman of the Financial Services Commission, answers questions during a plenary session of the National Assembly’s Political Affairs Committee in Yeouido, Seoul, in September. (The Korea Herald) As South Korea’s stock market continues to swing sharply between steep losses and

ASST Stock Slips Overnight: Strive Upsizes SATS Preferred Offering At 10% Discount; CEO Calls 5-Year Chart ‘Meaningless’

Proceeds could fund bitcoin purchases, investments, acquisitions and ASST or SATA share repurchases. CEO Matt Cole called criticism of ASST’s five-year performance “meaningless,” saying Strive had outperformed bitcoin since its reverse merger. SATS carries a $15 annual dividend per share, offering a 16.67% yield at the offer price if paid fully. Shares of Strive, Inc.

Roadster Reveal Could Be A Big Moment For Tesla Stock

Tesla is hours away from revealing its long delayed next generation Roadster, a halo sports EV teased with possible brief flight and SpaceX designed cold gas thrusters, at a livestreamed event from Texas. The Roadster is positioned less as a volume product and more as a showcase of Tesla’s engineering, AI and high end performance

Fundstrat’s Mark Newton Says Buy the Tech Dip, but Stay Diversified

Fundstrat’s Mark Newton says investors should buy the tech dip while staying diversified. Artificial intelligence (AI) cloud provider CoreWeave, down 15% at one point, still faces higher bond yields over its debt. The equal-weight S&P 500, which gives every company the same weight, fell about 6%. The headline S&P 500, by contrast, hit a record

Jim Cramer’s Rate Test: Why He Backs Reddit but Passes on SiTime

S&P 500 record high stock market cover. Photo by BeInCrypto CNBC host Jim Cramer backed Reddit (RDDT) and Rocket Lab (RKLB) but passed on SiTime (SITM) on Thursday’s “Mad Money,” favoring stocks that have fallen over those priced for growth while interest rates climb. The picks span social media, rockets, refiners and chips, yet one

Has Buying Applied Materials Stock’s Dips Paid Off?

Image from Pixabay Applied Materials (AMAT) stock has fallen 17.6% since its close on October 5, 2026. That is short of the 20% falls studied below, so the history is a rough guide rather than a close match. Investors are betting the semiconductor equipment maker will repeat its history of share price rebounds and that

MicroStrategy Could Be Removed From Major Global Stock Indexes

Michael Saylor’s Bitcoin giant could lose its place in major global stock indexes, potentially forcing investment funds to sell shares even if they still believe in the company. On Thursday, MSCI approved new rules to remove companies that behave more like investment vehicles than operating businesses. Its earlier simulation identified Strategy, formerly MicroStrategy, and Japan’s

Nvidia stock trims losses as chip sell-off eases amid AI financing concerns

Chip stocks pared losses Thursday after concerns over debt-heavy balance sheets triggered a broader AI-driven sell-off on Wall Street. The overall Tech (XLK) sector trimmed declines as investors rotated into defensive sectors and bought up Treasurys, pushing long-dated yields substantially lower. Shares of Nvidia (NVDA) and peer Advanced Micro Devices (AMD) fell roughly 1%, paring

The PNC Financial Services Group, Inc. Q3 2026 Earnings Call Summary

The PNC Financial Services Group, Inc. Q3 2026 Earnings Call Summary – Moby Strategic Execution and Market Expansion Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we’ll show you why it’s our #1 pick. Tap here. Performance was driven by robust client momentum

0
Would love your thoughts, please comment.x
()
x