Why Moderna Stock Is Down 25% In Recent Weeks
- Date: 29-Dec-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Why Moderna Stock Is Down 25% In Recent Weeks
Moderna's (NASDAQ: MRNA) stock has declined by roughly 25% over the last two weeks. While news from the company has been largely positive, with its Covid-19 vaccine receiving emergency approval from the U.S. FDA and dosing starting in the U.S., the decline in the stock is likely largely technical. Vaccine stocks have been very popular with investors through the pandemic and it's possible that they are booking some profits as commercialization gathers steam. For perspective, Moderna stock is still up by about 6.5x year-to-date.
While Moderna trades at a reasonable valuation (about 6x consensus 2021 Revenue) for a biotech poised to post big growth next year, the impact of the Covid-19 vaccine is likely to be fleeting for the company (likely only 2021 and 2022) and investors are possibly looking beyond the pandemic. While Moderna
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