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Why Moderna (MRNA) Dipped More Than Broader Market Today

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The latest trading session saw Moderna (MRNA - Free Report) ending at $53.80, denoting a -0.55% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.18%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.27%.

Prior to today's trading, shares of the biotechnology company had lost 17.64% over the past month. This has lagged the Medical sector's loss of 3.03% and the S&P 500's gain of 4.46% in that time.

Market participants will be closely following the financial results of Moderna in its upcoming release. The company plans to announce its earnings on November 7, 2024. In that report, analysts expect Moderna to post earnings of -$1.93 per share. This would mark a year-over-year decline of 38.85%. Alongside, our most recent consensus estimate is anticipating revenue of $1.25 billion, indicating a 31.71% downward movement from the same quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$9.94 per share and a revenue of $3.2 billion, representing changes of +19.38% and -53.33%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Moderna. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.74% lower. As of now, Moderna holds a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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