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Moderna, Inc. (MRNA), a clinical stage biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, and cardiovascular diseases.
As of February 15, 2019 the company had 11 programs in clinical trials and a total of 20 development candidates in six modalities comprising prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics. The company has strategic alliances with AstraZeneca, Merck & Co., Vertex Pharmaceuticals, Biomedical Advanced Research and Development Authority, Defense Advanced Research Projects Agency, and Bill & Melinda Gates Foundation; and a research collaboration with Harvard University.
Moderna, Inc. also has a collaboration with Lonza Ltd. for the manufacture of mRNA-1273, a COVID-19 vaccine. The company was formerly known as Moderna Therapeutics, Inc. and changed its name to Moderna, Inc. in August 2018.
Moderna reported a 1st Quarter March 2020 loss of $0.35 per share on revenue of $8.4 million. The consensus estimate was a loss of $0.37 per share on revenue of $18.2 million. Revenue fell 47.7% compared to the same quarter a year ago.
Over the weekend, the Wall Street Journal reported, "'Of more than 100 vaccines in development globally, at least eight have started testing in humans, including candidates from Moderna (MRNA) and Pfizer (PFE), as pharmaceutical giants like Johnson & Johnson (JNJ), AstraZeneca (AZN) and Sanofi (SNY) build capacity to make hundreds of millions of doses of their own or their partners' vaccines,' The Wall Street Journal's Peter Loftus reports. The efforts are part of a larger rush, including at the White House, to line up funding for accelerated testing and expanded manufacturing capacity, all to make doses available in the U.S. starting as soon as this fall, the authors note".
MRNA just left our portfolio, but due to the news over the weekend, we think it is opportune time to ride the momentum of this stock.
Entry point: $77.00
52-week trade range: $11.54 - $68.49
Stop/Loss: $73.00
Target Price: $87.00
Taking profits at $84.00.
