Moderna Season 2 RSV data on lower end of expectations, says Jefferies

Jefferies notes that Moderna this morning presented their Phase 3 data at the ongoing ACIP meeting, including updated Season 1 and Season 2 data on the company’s RSV vaccine. The data was “consistent with expectations and mostly expected” and should support a positive recommendation for use for people over 60 years old later today, argues the analyst. However, Jefferies says that “on the margin the stock might be trading off a little today” because the detailed numbers for the firm time on Season 2 were on the lower end of expectations. Jefferies keeps a Buy rating and $180 price target on Moderna shares, which are down $7.18, or 5%, to $130.42 near midday.