Moderna (MRNA) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Moderna (MRNA) ending at $110.43, denoting a -1.38% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.54%.
Shares of the biotechnology company witnessed a gain of 25.82% over the previous month, beating the performance of the Medical sector with its gain of 2.49% and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. The company is expected to report EPS of -$3.01, down 1684.21% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $401.97 million, indicating a 78.41% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$7.27 per share and revenue of $4.22 billion, indicating changes of +41.04% and -38.44%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Moderna. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 28.65% lower. Moderna currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Moderna, Inc. (MRNA) : Free Stock Analysis Report
