On August 20, Moderna, Inc. fell 12% in pre-market trading. The decline follows the stock's historic 177% single-day surge on August 19, which added $44 billion in market capitalization after the company and Merck announced positive Phase III results for their personalized mRNA cancer vaccine intismeran autogene in melanoma patients.
The pullback reflects profit-taking and emerging bearish positioning. Options market data showed significant bearish structures, including a $1.67 million far-dated put purchase and a bear call spread generating $525,000 in premium, collectively signaling institutional skepticism about sustained upside. According to Ortex data, short sellers faced approximately $4.8 billion in mark-to-market losses during the prior session's surge. Meanwhile, multiple investment banks raised price targets — BofA to $170, Piper Sandler to $167, Goldman Sachs to $120, and Jefferies to $150 — though several maintained neutral ratings, suggesting the stock may have overshot near-term fair value following the initial euphoria.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
