Stock Track | Moderna Plummets 5.05% as Argus Downgrades Stock on Weak COVID-19 Vaccine Sales and Growth Concerns

Stock Track12-19

Moderna Inc. (MRNA) stock plummeted 5.05% on Wednesday, following an analyst downgrade from Argus Research citing declining sales of the company's COVID-19 vaccine and limited near-term growth prospects.

The brokerage firm downgraded Moderna's stock rating to "hold" from "buy," noting that while the company's COVID-19 vaccine was a strong performer during the pandemic, sales have dropped significantly as the virus entered a new phase.

Argus also highlighted challenges for Moderna's recently approved respiratory syncytial virus (RSV) vaccine, which was approved more than a year after competing products, potentially limiting its sales as doctors had already become accustomed to other options.

While Moderna has an extensive pipeline of 36 mRNA development candidates across 45 programs, Argus cautioned that these require significant investment and time to reach the market, limiting the company's near-term growth potential.

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