Why Moderna Shares Are Falling

Why Moderna Shares Are Falling

Moderna Inc MRNA shares are trading lower after Deutsche Bank initiated coverage on the stock with a Sell rating and a $250 price target.

Moderna is also trading lower by 27% over the past month, potentially due to profit-taking after the stock ran higher by 108% from the July 7th session through the September 23rd session.

Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020. Moderna had 24 mRNA development programs as of early 2021, with 13 of these in clinical trials.

Moderna has a 52-week high of $497.49 and a 52-week low of $65.49.

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