On September 10, Moderna, Inc. fell 3.52% in regular trading to $132.94/share, with turnover of $157 million, marking a third consecutive session of weakness.

On the news front, Rothschild & Co Redburn downgraded Moderna, Inc. from Neutral to Sell, adjusting its price target to $81, well below the current trading level. Meanwhile, UBS maintained a Neutral rating with a $150 price target, highlighting three near-term individualized neoantigen therapy (INT) data readouts as potential catalysts — including phase 3 melanoma data expected at an international conference this fall, followed by phase 2 data on renal cell carcinoma or muscle-invasive bladder cancer, and a phase 3 update on adjuvant non-small cell lung cancer.

The broader biotech sector remained under pressure, with Amgen down 0.25% and BeiGene down 2.62%. Moderna, Inc. had previously surged on positive mRNA cancer vaccine phase 3 trial data, with multiple institutions raising targets. The ongoing pullback reflects the market digesting prior gains and repricing the pace of clinical advancement ahead.

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