The biotech stock is down more than 23% in 2022, compared to the S&P 500's 19% decline.
Moderna has a game-changing drug pipeline for 2023, according to Jefferies. Analyst Michael Yee upgraded Moderna to buy from hold, saying a promising new cancer vaccine from the pharmaceutical company has renewed interest in the stock. "We upgrade MRNA to BUY on significant new pipeline story and catalysts ahead. The Covid vaccine story is old and numbers came way down already and most investors don't care much on this anymore.
Shares of Moderna are off by more than 23% in 2022 — compared to the S & P 500's 19% decline — as investors move on from the impact Covid has on the vaccine maker. However, shares surged more than 19% last week following an announcement of an experimental melanoma vaccine that, when combined with Merck 's cancer treatment Keytruda, reduced the risk of skin cancer recurrence or death by 44%. This is compared with a treatment of only Keytruda.
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