Moderna (MRNA) Stock Price and Forecast: Why is Moderna stock down again?


  • Moderna continues its recent slide on Tuesday.
  • MRNA stock falls 3% to close the regular session at $236.85.
  • Moderna shares have been hit by a double blow from Merck (MRK) and Pfizer (PFE).

The Moderna (MRNA) quote got down as low as $232 on Tuesday in what continues to be an aggressive sell-off following news of alternative treatments for covid. Both Pfizer and Merck have taken one-two blows at Moderna this past few weeks, and the stock has suffered badly.

In October Moderna shares traded as high as $460, and they have now more or less halved in that short time period. Added to the negative catalyst were earnings that missed expectations. Moderna reported on November 4 and missed on both revenue and earnings per share (EPS) forecasts. Revenue came in at $4.97 billion versus the $6.07 billion estimate. EPS was $7.70, missing the $8.97 estimte.

Moderna (MRNA) stock news

MRNA has been under the cosh then from the development of covid antiviral pills from Merck and Pfizer. The UK has already approved Merck's pill for use and made significant orders while the US also has orders in place. France was out with news on Moderna's covid vaccine yesterday with the health regulator saying Pfizer BioNTech vaccine should be used in for under-30s if available.

Germany has made a similar statement this morning if not somewhat stronger. The German vaccine committee STIKO says it recommends under 30s only be given the Pfizer BioNTech vaccine. The European Medicines Agency is also out this morning saying it has begun to evaluate the use of Moderna's Spikevax covid vaccine for children aged between 6 and 11. The EMA says it will take approximately two months to reach a decision. 

Take note of an article in The New York Times on Tuesday, headlined "Moderna and U.S. at Odds Over Vaccine Patent Rights". The article says, "The federal government could have more of a say in which companies manufacture the vaccine, which in turn could influence which countries get access. It would also secure a nearly unfettered right to license the technology, which could bring millions into the federal treasury."

Moderna (MRNA) stock forecast

The Moderna forecast is now looking decidely negative with a host of headwinds lining up. We have the earnings miss, counter treatments from Pfizer and Merck, France and Germany preferring the Pfizer/BioNTech vaccine for under 30s, and now a strongly negative trend with Moderna trading below the 200-day moving average. This puts Moderna bearish across all timeframes. Resistance is at $253 from the 200-day moving average and $265 from the yearly Volumed-Weighted Average Price (VWAP). The gap is at $278. Supports are $188.41 and then at $157 where we have large volume, so this may be a place to buy the dip.

MRNA 1-day chart

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD struggles to rebound, holds near 1.1150 after US data

EUR/USD trades around 1.1150 in the early American session on Friday as investors assess the latest inflation data from the US. According to the US Bureau of Economic Analysis, Core PCE Price Index rose to 4.9% on a yearly basis in December from 4.7% in November, surpassing the market expectation of 4.8%. 

EUR/USD News

GBP/USD clings to small gains above 1.3400 on mixed US data

GBP/USD posts modest daily gains slightly above 1.3400 on Friday as the dollar rally loses steam. The data from the US showed that the core PCE inflation edged higher to 4.9% in December. On a negative note, Personal Spending contracted by 0.6% on a monthly basis.

GBP/USD News

Gold recovers modestly after US data, stays below $1,800

Gold managed to stage a rebound from the multi-week low it set below $1,780 but continues to trade deep in the red near $1,790. The benchmark 10-year US Treasury bond yield is rising more than 1% on the day after US data, limiting XAU/USD's recovery.

Gold News

Bitcoin Weekly Forecast: Federal Reserve cannot tame BTC’s uptrend

Bitcoin has experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed's decision was announced. As losses have extended and BTC has entered into the $30,000 zone, concerns regarding Bitcoin being in a bear market have increased.

Read more

Apple share price set to rise after another record quarter

With the Nasdaq closing at its lowest level in seven months yesterday, the Apple share price has also found itself on the end of the recent weakness in tech shares, down over 12% from its record highs in early January.

Read more

Forex MAJORS

Cryptocurrencies

Signatures