Moderna Inc (NASDAQ:MRNA, XETRA:0QF) has been awarded a ‘Hold' rating and $30 price target, implying limited upside, from Jefferies analysts in their initial coverage of the drugmaker. Moderna shares are down almost 28% in the year to date, trading just shy of $30 on Friday morning.
A major vaccine producer came under pressure following a report federal health regulators plan to tighten vaccine approval rules. Meanwhile, an agreement with the world's most valuable company bolstered a software firm whose products help customers design and test semiconductors.
Major U.S. equities indexes lost ground Monday afternoon, as shares of tech and cryptocurrency-related companies pulled back. The S&P 500 and Nasdaq slid about 0.2%, while the Dow dropped 0.4%.
Moderna Inc (NASDAQ:MRNA, XETRA:0QF) stock fell sharply on the news that the Food and Drug Administration (FDA) plans to implement stricter approval requirements for vaccines. The announcement raised investor concerns about potential delays and increased scrutiny for the company's pipeline of new products.
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