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A new mRNA cancer vaccine hit its goal in melanoma patients, giving a healthcare giant a fresh growth story.
The day after Moderna’s stock posted its biggest one-day gain on record, it is on track for its largest percent drop in more than two years as investors digested the news and adjusted their positions. Prior to Wednesday’s rally on positive mRNA cancer vaccine data, Moderna’s stock had substantial short interest at 13.7%. UBS said its clients sold a record $44 million in Moderna shares Wednesday, suggesting some investors were cashing out after the rally.
Moderna's stock just surged in a way that transforms the company from a cash-burning vaccine maker into a serious acquirer, and four biotech targets already sit within striking range of its newly loaded war chest.
By Mike Dolan Aug 20 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets Buybacks to the rescue? The surprising move by the U.S.
Investing.com -- Bank of America upgraded Moderna to Neutral with a $170 price objective, following a sharp rally in the stock after positive data on its personalized cancer vaccine, intismeran, in adjuvant melanoma.
CHICAGO, Aug 19 () - Merck and Moderna's success with a personalized cancer vaccine designed to keep melanoma at bay opens a new avenue of treatment that doctors hope will work against many types of tumors. Unlike chemotherapy, which kills both healthy and cancerous cells, or immunotherapy, which revs up the immune system, personalized cancer vaccines train the immune system to specifically target mutations found only on a person's tumor.
Promising news from a major drug company, reports of some dovish Fed committee members, and a government bond buyback announcement combined forces to boost markets on Wednesday. The S&P 500 and the Nasdaq Composite also closed up 0.2%. The Treasury Department’s announcement this morning also helped calm the bond market—though for how long remains to be seen after the U.S. debt crossed a $40 trillion threshold on Wednesday.
<body><p>VIDEO SHOWS: n/a</p><p>STORY: Wall Street's main indexes closed modestly higher on Wednesday, with the Dow, S&P 500 and the Nasdaq all adding less than a quarter of a percent.</p><p>Risk appetite got a boost from easing government bond yields. The yield on the 30-year Treasury bond fell a day after hitting its highest level since 2007. The 10-year Treasury yield also fell. The moves came after the U.S. Treasury announced it would double the size of liquidity support buyback operations for longer-dated bonds.</p><p>Adam Coons is chief investment officer at Winthrop Capital Management.</p><p>"Stocks are, you know, marginally up today. And that's really just driven by the digestion of this yield curve control. You're seeing interest rates come down, in particular long end (long-term rates) quite a bit. And so you're probably going to see markets try to use their crystal ball to determine what's coming next. And so I would expect volatility. Today seems like a day of rest to some degree. But I would say that volatility and increased volatility heading into, you know, changes in Fed policy should be the new expectation."</p><p>Investors, however, barely reacted to minutes from the Federal Reserve's July meeting, which showed deepening concern about inflation with "several" policymakers ready to raise interest rates. "Many" said a rate hike would be needed if inflation does not lower to the central bank's 2% target.</p><p>:: Archive</p><p>Stocks on the move Wednesday included Moderna which surged almost 177% after the company said its personalized mRNA cancer therapy developed with Merck cut the risk of melanoma recurrence and spread in a late-stage trial. Merck shares also jumped about 12.5% and it was the biggest gainer in the Dow.</p><p>::Marvell Technology</p><p>Shares of Marvell Technology climbed nearly 10% after the company said it will help develop Google's in-demand custom chips and has offered the search giant the right to buy a potential $12.2 billion stake.</p><p>And shares of Target rose more than 4% after the retailer raised its annual sales forecast. Lowe's shares gained even after it trimmed its annual sales growth forecast and Estée Lauder shares jumped more than 16% after the cosmetics maker forecast annual profit above Wall Street estimates.</p></body>
1. Moderna shares more than doubled after it reported successful results in an experimental mRNA-based cancer vaccine. The company and its partner Merck reported this morning that the vaccine succeeded in preventing cancer from coming back or spreading in a study of high-risk melanoma patients. The positive results sent Moderna’s share price soaring and rippled through drug industry stocks as investors saw the potential for more future blockbusters.
Drug company stocks soared following news that Moderna and Merck’s experimental mRNA-based cancer vaccine succeeded in a late-stage trial at preventing melanoma from returning or spreading. The S&P health-care sector is on track for an all-time closing high, as is Merck, according to data that goes back to 1972. As of Wednesday afternoon, Moderna’s stock had more than doubled, something that a member of the S&P 500 hasn't done in a single day since 2008, according to Dow Jones Market Data.
Investors rotated toward profitable drugmakers while personalized cancer-vaccine results energized biotechnology stocks.
The result could reshape Moderna's post-vaccine growth story
A personalized vaccine developed by Moderna Inc. and Merck & Co. reduced the recurrence of melanoma in a large, late-stage trial, raising expectations for treating the deadliest form of skin cancer and showing the promise of the embattled mRNA technology. Bloomberg's Sam Fazeli joins to discuss.
By Christy Santhosh and Shashwat Chauhan Aug 19 (Reuters) - Moderna shares more than doubled on Wednesday, adding about $30 billion to its market value, after promising late-stage data on its
On this episode of Stock Movers: - Shares of Moderna (MRNA) surged by a record 101% - the stock's biggest intraday gain on record - after the biotech said a personalized cancer vaccine combined with partner Merck & Co.'s Keytruda helped cut the recurrence of melanoma in a large, late-stage trial. The study also met a key secondary goal of showing the shot could help prevent tumors from spreading to new areas of the body, the companies said in a statement Wednesday. - Shares of Estee Lauder (EL) rallied after the beauty company's adjusted earnings per share and sales metrics topped consensus expectations for the fourth quarter. The midpoint of fiscal 2027 organic sales and adjusted EPS guidance ranges are above Street views. - Shares of La-Z-Boy (LZB) tumbled at the open after the furniture maker's forecast sales for the second quarter missed the average analyst estimate.
Moderna shares more than doubled Wednesday after it announced initial results from a study of an experimental cancer treatment that would be the first of its kind if approved by regulators. Moderna and Merck are developing a treatment using an mRNA-based cancer vaccine called intismeran that is designed to be tailored to individual patients based on unique mutations within their tumors. In current studies, they are pairing it with Keytruda, a immunotherapy drug made by Merck.
By Julie Steenhuysen and Christy Santhosh CHICAGO, Aug 19 (Reuters) - Moderna's personalized mRNA cancer therapy, developed with Merck, reduced the risk of melanoma recurrence and spread in a late-
By Avinash P and Purvi Agarwal Aug 19 (Reuters) - The main U.S. stock indexes were on track to open higher on Wednesday after a tech-led selloff in the previous session as investors assessed fresh