From 24/7 Wall St. · David Moadel · · 1m
Moderna Tumbles 10% as Profit Taking Hits Cancer Vaccine Rally
Moderna stock drops 10% after profit taking as cancer vaccine rally fades.
In brief
Moderna stock drops 10% after profit taking as cancer vaccine rally fades. Moderna stock fell 10% to $214.03 amid profit taking ahead of melanoma trial data. Originally reported by 24/7 Wall St..
Moderna stock drops
Moderna stock is down 10% to $214.03 in morning trading after a steep cancer vaccine run.
Profit taking intensifies
Profit taking is hitting one of biotech’s hottest trades, with Moderna stock falling far harder than BioNTech.
BioNTech and Pfizer react
BioNTech stock drops 2% to $88.59 while Pfizer stock rises 0.3% to $29.54.
Melanoma trial data
Moderna reported intismeran autogene met primary endpoint in melanoma trial, sending shares to best single-day gain ever.
Keytruda partnership
Merck and Moderna partner on intismeran autogene, with Phase 2b showing 49% reduction in recurrence risk.
ESMO data coming
Full melanoma data for intismeran autogene is due at ESMO Congress later this month.
Investor caution
Investors should keep Moderna positions moderate until ESMO data confirms melanoma results.
What matters most
Moderna stock fell 10% to $214.03 amid profit taking ahead of melanoma trial data.
