What's Going On With Moderna Stock Today?

Moderna Inc MRNA shares are trading higher Wednesday after the company's respiratory syncytial virus (RSV) vaccine candidate met its primary endpoint in a Phase 3 trial. Analysts appear to be reacting positively to the results. 

What Happened: Moderna said mRNA-1345, an investigational mRNA vaccine targeting RSV in older adults, met the primary endpoints in a Phase 3 trial of older adults.

The primary endpoint measuring vaccine efficacy came in at 83.7% against RSV-associated lower respiratory tract disease as defined by two or more symptoms. Based on the results, Moderna intends to submit for regulatory approval in the first half of 2023.

"These data are encouraging, and represent the second demonstration of positive phase 3 trial results from our mRNA infectious disease vaccine platform after, Spikevax, our COVID-19 vaccine. We look forward to publishing the full data set and sharing the results at an upcoming infectious disease medical conference," said Stéphane Bancel, CEO of Moderna.

Moderna said it will submit data for peer-reviewed publication and present it at an upcoming scientific meeting.

In addition to mRNA-1345, Moderna noted it's committed to developing vaccines that target the most significant viruses causing respiratory disease, including COVID-19, influenza and human metapneumovirus.

Chardan Capital analyst Geulah Livshits maintained Moderna with a Neutral rating and raised the price target from $191 to $208 following the trial results.

Check This Out: Alphabet To Rally Around 37%? Here Are 10 Other Analyst Forecasts For Wednesday

MRNA Price Action: Moderna has a 52-week high of $217.25 and a 52-week low of $115.03.

Moderna shares are up 6.98% at $204 at time of publication, according to Benzinga Pro.

Photo: Mufid Majnun from Pixabay.