Why Moderna’s stock has fallen today

What happened

Shares of Moderna (NASDAQ: MRNA) Wednesday fell 6.9%, following a warning from analysts at a respected investment bank.

And then

Morgan Stanley analyst Matthew Harrison downgraded his rating on Moderna’s stock from overweight to equal weight, although he increased his price prediction from $ 100 to $ 150. Harrison sees more long-term upside gains, but he warned investors’ expectations in the short term term may be too long.

A person points to a digital stock chart that rises sharply and then falls.

According to analysts at Morgan Stanley, Moderna’s share price may be something for itself. Image Source: Getty Images.

Hence, he believes it is best to wait for opportunities to buy the stock at a lower price. “We think it is appropriate to go on the sidelines for now and look for entry points to better realize the potential long-term value,” said Harrison.

What now

Its downgrade essentially comes down to appreciation. Moderna’s stock price is up a staggering 609% in 2020. Investors have increased their shares following the promising performance of their coronavirus candidate, mRNA-1273, which has been shown in clinical studies to be a whopping 94.1% effective against COVID-19. . In fact, Harrison argues that Moderna’s stock price has exceeded the current value of the biotech, but admits that the long-term future remains bright.