Posted 9/18/2023, 7:33:35 PM

Moderna Stock Drops as COVID Booster Demand Dwindles; Company Pivots to Oncology and Rare Diseases

Moderna stock plunges as COVID-19 booster market shrinks to just 24% of eligible Americans
Analysts project Moderna's COVID-19 sales will level off after 2024 as demand wanes
Moderna expanding beyond COVID-19 into oncology, rare diseases and other areas
Cash from COVID-19 sales gives Moderna runway for developing new products
Analysts forecast 59.67% upside for Moderna stock with $166.25 average price target

tipranks.com

Relevant topic timeline:

8/18/2023

Fall COVID shots will boost protection against latest subvariants, Moderna says

Main topic: Moderna's updated COVID-19 vaccine shows efficacy against omicron subvariants. Key points: 1. Moderna's updated COVID-19 vaccine boosts neutralizing antibodies against omicron subvariants EG.5 and FL.1.5.1. 2. The booster shot is expected to be authorized and rolled out soon. 3. The preliminary trial data aims to reassure concerns about the vaccine's effectiveness against current variants.

8/21/2023

Moderna Surges On A Second, Unexpected Shot At The Cancer Vaccine Market

Moderna's stock surged after the biotech company partnered with Carsgen to study a new cancer vaccine regimen using mRNA technology, giving Moderna a second opportunity in the field of cancer vaccines.

9/6/2023

Moderna says updated COVID vaccine is effective against newer variant

Moderna's updated COVID-19 vaccine is likely to be effective against the highly-mutated BA.2.86 subvariant of the coronavirus, according to clinical trial data, providing reassurance for fall boosters and regulators.

9/11/2023

FDA authorizes new Omicron-targeting COVID boosters from Pfizer, Moderna; shots could be available within days pending CDC approval.

Two new Covid shots from Pfizer-BioNTech and Moderna have been approved by the FDA and are expected to be available soon as cases continue to rise in some parts of the US, with preliminary research suggesting they offer protection against the dominant variant and other concerning variants.

9/13/2023

Moderna's New Flu Vaccine Shows Stronger Immune Response Than Traditional Shots in Late-Stage Trial

Moderna's flu vaccine has demonstrated a stronger immune response against all strains of the influenza virus compared to traditional flu shots, potentially allowing the company to file for accelerated approval in the US by year-end and launch the vaccine for the 2024/2025 season, while also scaling down its COVID-19 vaccine manufacturing to meet lower post-pandemic demand.

9/14/2023

Moderna Looks Beyond Covid, Plans 15 New Products Including Flu Vaccine

Moderna CEO Stéphane Bancel asserts that the positive data on the company's influenza vaccine and their plans to launch 15 products in the next five years demonstrate that they are not solely a Covid vaccine company.

9/18/2023

Moderna Stock Drops Over 9% Despite Little News; Co-Founder Sells $1.65 Million in Shares

Moderna's stock experienced a 9.1% drop, the largest decline in the S&P 500, which may have been influenced by the sale of 15,000 shares by an executive but could also be attributed to overall weakness in vaccine-related stocks.