Moderna shares on Friday were driven by multiple catalysts, including a Nasdaq-100 entry, a New York Times report on a planned NIH-backed cancer-vaccine push and a price target hike.
- MRNA rejoined the Nasdaq-100 before the open on Friday, replacing Warner Bros. Discovery.
- Separately, the New York Times reported new details of a public-private effort to speed development of cancer vaccines, modeled in part on the collaboration that produced COVID shots.
- Earlier on Friday, Bank of America also lifted its price target on MRNA to $200 from $170 and kept a ‘Neutral’ rating.
Shares of Moderna (MRNA) jumped on Friday, setting a fresh 52-week high, as the stock returned to the Nasdaq-100 and investors priced in a reported national push on cancer vaccines.
The shares closed up about 14%, at $225, after closing Thursday at $197.
MRNA Is Back In The Nasdaq-100
Nasdaq said on October 1 that Moderna would rejoin the Nasdaq-100 before the open on October 9, replacing Warner Bros. Discovery. The index tracks 100 of the largest non-financial companies listed on Nasdaq and is followed by more than 200 products with over $800 billion in assets. When a name enters, funds that mirror the index have to buy it.
Moderna had fallen out of the index in December 2024, after the post-pandemic slide in its COVID vaccine business pulled its market value below the cutoff.
A Cancer-Vaccine Plan
The other catalyst arrived the same morning. The New York Times reported new details of a public-private effort to speed development of cancer vaccines, modeled in part on the collaboration that produced COVID shots. The plan is expected to involve the National Institutes of Health, the NIH’s nonprofit arm, academic researchers, drugmakers, advocacy groups, and patients. Stacey Adam, a senior clinical officer at the NIH’s foundation, told the Times she expects the program to launch in December.
Moderna was treated as a lead beneficiary. It is the most visible pure-play mRNA company, and with Merck it is already testing an individualized melanoma vaccine, intismeran autogene, also called V940 or mRNA-4157. The partners said on August 19 that a late-stage trial of the shot plus Keytruda had met its primary endpoint. Full data are scheduled for an ESMO presentation in Madrid on October 24. Pfizer, BioNTech, and Merck also rose after the Times report.
Analysts Weigh In On MRNA
Earlier on Friday, Bank of America lifted its price target on MRNA to $200 from $170 and kept a ‘Neutral’ rating, a target the stock has now moved past.
According to data from Koyfin, 5 of 23 analysts rate it ‘Buy’ or higher, while 15 rate it ‘Hold’ and three rate it ‘Sell’ or ‘Strong Sell.’ The 12-month average price target on the stock is $121, representing a downside of over 45% from current trading levels.
How Did MRNA Retail Traders React?
On Stocktwits, retail sentiment around MRNA stock rose from ‘neutral’ to ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.
A Stocktwits user highlighted the company’s current loss-making and termed the pumping “crazy.”
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Another voiced optimism for the ESMO presentation on the cancer vaccine slated for later this month.
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MRNA stock has gained over 660% year-to-date.
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