Moderna Inc MRNA shares are trading lower by 4.59% to $140.80 Friday morning after SVB Leerink downgraded the stock from Market Perform to Underperform and lowered its price target from $111 to $93.
Moderna shares were also trading lower during Thursday's session after the company reported mixed fourth-quarter financial results.
What Happened WIth Moderna's Earnings?
Revenue was $5.08 billion compared to $7.21 billion a year ago, slightly above the consensus of $5.02, mainly due to a decline in COVID-19 vaccine sales.
Product sales for the fourth quarter of 2022 were $4.9 billion, a 30% Y/Y decrease primarily driven by lower sales volume compared to overall higher demand a year ago...Read More
According to data from Benzinga Pro, MRNA has a 52-week high of $217.25 and a 52-week low of $115.03.
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