Moderna Sinks on AstraZeneca Covid-19 Vaccine Progress By Investing.com

© Reuters.

By Christiana Sciaudone

Investing.com — Moderna (NASDAQ:) dropped 14% after AstraZeneca (NYSE:) and Oxford University said a vaccine candidate showed promise.

The vaccine, AZD1222, is safe and produced an immune response in early-stage clinical trials in healthy volunteers, Reuters reported, citing data from The Lancet. No serious side effects were reported.

JPMorgan (NYSE:) also downgraded the stock today on a high valuation, to neutral from overweight, The Street reported. Analyst Cory Kasimov boosted his one-year price target to $89 from $60.

Moderna has surged in recent months on vaccine news, quadrupling to more than $80 since March.

Last week, Moderna’s vaccine elicited antibodies in all people tested in an initial safety trials, Bloomberg reported, though there was a high rate of side effects, with three of 45 people facing severe reactions.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*