Moderna closed at $242, while Wall Street’s average price target is just $101—the stock is trading at 2.4 times that target. I’m not chasing it before Saturday’s data.
Here’s what happened: Moderna rose 6.7% on Tuesday, hitting a 52-week high of $243.98 intraday.
A year ago, its lowest closing price was just $22.36. It’s now up more than 10-fold; when preliminary Phase 3 results came out on August 19, the stock jumped 177% in a single day.
Full Phase 3 data for the personalized melanoma vaccine developed with Merck will be presented at ESMO on October 24 at 22:30 Beijing time.
I think most of the good news is already priced in. Unless the data are truly impressive, the stock could easily suffer a “sell the news” reaction. Company insiders have also sold about $33.9 million worth of shares over the past 90 days.
What I’m doing: neither chasing the stock nor shorting it ahead of the data.
I’ll take another look if it holds above $243.98 after the data. A break below the October 16 low of $208.92 would mean expectations have played out.
Will you hold Moderna over the weekend ahead of Saturday evening’s data—yes or no?
$MRNA $MRK
#Moderna #癌症疫苗
Here’s what happened: Moderna rose 6.7% on Tuesday, hitting a 52-week high of $243.98 intraday.
A year ago, its lowest closing price was just $22.36. It’s now up more than 10-fold; when preliminary Phase 3 results came out on August 19, the stock jumped 177% in a single day.
Full Phase 3 data for the personalized melanoma vaccine developed with Merck will be presented at ESMO on October 24 at 22:30 Beijing time.
I think most of the good news is already priced in. Unless the data are truly impressive, the stock could easily suffer a “sell the news” reaction. Company insiders have also sold about $33.9 million worth of shares over the past 90 days.
What I’m doing: neither chasing the stock nor shorting it ahead of the data.
I’ll take another look if it holds above $243.98 after the data. A break below the October 16 low of $208.92 would mean expectations have played out.
Will you hold Moderna over the weekend ahead of Saturday evening’s data—yes or no?
$MRNA $MRK
#Moderna #癌症疫苗