Moderna ( (MRNA) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Moderna’s stock has been under pressure due to reports of a potential review of its $590 million bird flu vaccine contract by the U.S. Health and Human Services Department. This review, triggered by concerns over inadequate oversight during the Biden administration, has raised questions about pandemic preparedness funding and the commitment to mRNA-based vaccines. The uncertainty surrounding the contract, along with a significant bird flu outbreak in the U.S., has led to a nearly 6% drop in pre-market trading. Analysts have adopted a cautious approach, maintaining a Hold rating on the stock, balancing the potential upside with the risks of funding and regulatory scrutiny.
More about Moderna
YTD Price Performance: -20.05%
Average Trading Volume: 10,902,410
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $12.96B
For further insights into MRNA stock on TipRanks’ Stock Analysis page.
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