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- Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock.
- Stocks linked to vaccine developers such as Moderna, Pfizer and Novavax tanked in the leadup to market close Thursday, tumbling after reports surfaced that President-elect Donald Trump would select va…
- This narrative is expounded by recent collaborations, like the promising CAR-M therapy initiative in coordination with Carisma Therapeutics.
- In the tapestry of biotechnology, the story of Moderna is enhanced by its pursuit of therapeutic breadth through strategic partnerships and next-gen vaccine development.
Vaccine maker stocks fall after conspiracy theory-spreading RFK Jr. tapped to lead health department
Further down the road are therapeutics for cancer and other diseases that could be additional catalysts for growth. Last month, the company revised coronavirus vaccine revenue downward due to lower sales. And in its update this week, the biotech made significant changes to its strategy. Moderna plans to cut annual research and development (R&D) spending by more than $1 billion starting in 2027 and discontinue five programs — and it forecast that it would break even in 2028 instead of 2026. Moderna has received approval from Canada’s health regulator for its respiratory syncytial virus vaccine in adults 60 years of age and older, the vaccine maker said on Friday.
Here are some of the major companies whose stocks moved on the week’s news. Last week, some large European and U.S. vaccine maker stocks fell in reaction to Robert F. Kennedy Jr.’s nomination to lead the Department of Health and Human Services. Select to analyze similar companies using key performance metrics; select up to 4 stocks. Did you know that increasing short interest can actually be bullish for a stock?
Finally, Plato Investment Management Ltd increased its holdings in shares of Moderna by 230.4% during the second quarter. Plato Investment Management Ltd now owns 413 gbp to cad historical exchange rates shares of the company’s stock valued at $49,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock. As you can see from the chart above the percentage of shares that are sold short for Moderna has grown since its last report.
Conclusion: Bridging Moderna’s Today with Tomorrow’s Potential
However, this cash holding represents a significant decrease from $8.52 billion at the end of Q1 2024, indicating a high cash burn rate of approximately $825 million per quarter. Despite recent cost-cutting initiatives, these are fairly ominous figures. “If you listen to where his stance is on vaccines most recently, so starting— dating from 2022 and as recently as shortly after the election results, he is a lot more moderate than I would have thought,” she said. Now, in order to support breakeven and eventual profit, the company is shifting to focus on key programs and usher them through the final stages of development.
Moderna Short Interest Graph (3 Months)
Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Moderna has a consensus rating of “Hold” and a consensus target price of $84.00. Moderna’s MRNA short percent of float has risen 3.25% since its last report. The company recently reported that it has 34.38 million shares sold short, which is 11.75% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.68 days to cover their short positions on average.
Moderna Receives Health Canada Approval for RSV Vaccine for Adults Aged 60 Years and Older
This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted. Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall.
The biotech giant, which has been at the forefront of mRNA technology, continues to capture attention amid its fluctuating stock prices and strategic maneuvers in the pharmaceutical arena. It has been around four years since COVID crashed the stock market, albeit temporarily. The pandemic sent the healthcare industry into a panic, with vaccines from Moderna and Pfizer providing relief and stability to global economies. But odds are that in five years, COVID vaccine revenue will be minimal at best for Moderna. Before the COVID-19 pandemic, most investors likely hadn’t heard of Moderna (MRNA 7.48%). At the end of 2019, it was a relatively small biotech company with only collaboration and grant revenue and no commercially available products.
Ashton Thomas Private Wealth LLC purchased a new stake in shares of Moderna during the 2nd quarter valued at $26,000. Family Firm Inc. purchased a new stake in Moderna in the second quarter valued at about $33,000. Bank & Trust Co acquired a new stake in Moderna in the second quarter worth about $36,000. Hanseatic Management Services Inc. purchased a new stake in shares of Moderna during the second convert australian dollar to new zealand dollar quarter worth about $48,000.
The company just released its latest results and revenue totaled $6.8 billion for 2023, coming mainly from its COVID vaccine. That’s down sharply from the $19.3 billion in sales Moderna recorded in 2022. Finally, Moderna has the financial strength to see itself through this strategy to become a multiproduct and profitable company.