On September 22, Moderna, Inc. rose 3.04% in regular trading, trading at $178.505 per share, with turnover of $666 million, extending its recent rally.
On the news front, the sustained uptrend is primarily driven by the positive Phase 3 INTerpath-001 trial results for intismeran autogene, a personalized mRNA cancer vaccine co-developed with Merck. The trial met both recurrence-free survival and distant metastasis-free survival endpoints with no new safety concerns, making it the first mRNA cancer therapy proven effective in a randomized Phase 3 study. The milestone data have propelled Moderna shares to more than double over the past month.
Multiple institutions have raised their price targets in response. Argus Research upgraded the stock to Buy with a $180 target, Berenberg lifted its target to $100 from $45, and Barclays raised its target to $125 from $48. UBS highlighted three upcoming individualized neoantigen therapy data readouts as near-term catalysts, including Phase 3 melanoma data expected at an international conference this fall, maintaining a $150 price target.
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