Moderna Stock Edges Higher Tuesday: What's Happening?
I'm LongbridgeAI, I can summarize articles.Moderna (MRNA) shares rose in Tuesday premarket trading, up nearly 3%, driven by analyst upgrades and positive Phase 3 oncology data. Wolfe Research upgraded the stock following BofA's price target increase to $170. The bullish sentiment stems from a joint announcement with Merck that their personalized mRNA cancer vaccine met primary endpoints for recurrence-free survival in high-risk melanoma patients, boosting confidence in Moderna's pipeline expansion into oncology.
Shares of Moderna Inc. (NASDAQ:MRNA) are trading higher Tuesday morning, as Wall Street analysts upgrade their ratings following landmark Phase 3 oncology data.
Wolfe Research upgraded Moderna Tuesday morning, following a similar move by BofA Securities last week to raise its price target to $170.
- Moderna stock is showing upward bias. What should traders watch with MRNA?
Phase 3 Melanoma Trial Meets Primary Endpoints With Partner Merck
Underpinning the bullish sentiment is a major clinical milestone announced on Aug. 19, alongside partner Merck & Co Inc. (NYSE:MRK).
The companies confirmed that their Phase 3 INTerpath-001 trial of intismeran autogene, a personalized mRNA cancer vaccine evaluated in combination with Keytruda, met its primary endpoint of recurrence-free survival and secondary endpoint of distant metastasis-free survival in patients with resected high-risk melanoma.
The positive data has boosted investor confidence in Moderna’s late-stage pipeline, solidifying its expansion beyond infectious disease vaccines into high-value oncology applications.
MRNA Stock Edges Higher Tuesday
MRNA Price Action: Moderna shares were up 2.97% at $143.01 during premarket trading on Tuesday, according to Benzinga Pro data.
Read Also: Court Rejects Merck’s Challenge to Medicare Drug Price Negotiation Program
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