William Blair analyst Myles Minter has maintained their neutral stance on MRNA stock, giving a Hold rating on October 21.
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Myles Minter has given his Hold rating due to a combination of factors surrounding Moderna’s recent clinical trial results and their implications. The company’s CMV vaccine, mRNA-1647, did not achieve the desired efficacy in the Phase III CMVictory trial, which was a significant setback. This trial aimed to prevent primary CMV infection in a specific demographic, but the vaccine’s efficacy was notably below the statistical significance threshold required.
Despite the setback, the company’s ongoing efforts, such as continuing the Phase II trial for mRNA-1647 in hematopoietic cell transplant patients, indicate a commitment to further development. However, the failure of the CMVictory trial has led to a reevaluation of financial expectations, as the CMV vaccine was anticipated to be cash flow negative, impacting Moderna’s financial outlook. These elements contribute to the Hold rating, reflecting cautious optimism while acknowledging the challenges ahead.
In another report released on October 21, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $28.00 price target.