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Moderna (MRNA) Surges 6.2%: Is This an Indication of Further Gains?
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Moderna (MRNA - Free Report) shares ended the last trading session 6.2% higher at $111.60. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.2% loss over the past four weeks.
Shares price rose after management reported encouraging data from a portion of an early-stage study on mRNA-4157/V940, its investigational individualized neoantigen therapy (INT), in certain patients with head and neck cancer.
This portion of the study evaluated the combination of mRNA-4157 and Merck’s blockbuster immuno-oncology drug Keytruda in patients with human papillomavirus negative (HPV-) head and neck squamous cell carcinoma (HNSCC).
Data from the study showed that treatment with the combination was not only achieved positive clinical responses in HPV- HNSCC patients, but even showed evidence of activation of immune responses. The combined therapy was also found to be safe and well-tolerated in study participants.
This biotechnology company is expected to post quarterly loss of $3.36 per share in its upcoming report, which represents a year-over-year change of -1868.4%. Revenues are expected to be $238.56 million, down 87.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Moderna, the consensus EPS estimate for the quarter has been revised 9.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MRNA going forward to see if this recent jump can turn into more strength down the road.
Moderna belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Rhythm Pharmaceuticals, Inc. (RYTM - Free Report) , closed the last trading session 4.3% higher at $43.61. Over the past month, RYTM has returned 3.2%.
Rhythm Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.12. Compared to the company's year-ago EPS, this represents a change of -130.4%. Rhythm Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).
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Moderna (MRNA) Surges 6.2%: Is This an Indication of Further Gains?
Moderna (MRNA - Free Report) shares ended the last trading session 6.2% higher at $111.60. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.2% loss over the past four weeks.
Shares price rose after management reported encouraging data from a portion of an early-stage study on mRNA-4157/V940, its investigational individualized neoantigen therapy (INT), in certain patients with head and neck cancer.
This portion of the study evaluated the combination of mRNA-4157 and Merck’s blockbuster immuno-oncology drug Keytruda in patients with human papillomavirus negative (HPV-) head and neck squamous cell carcinoma (HNSCC).
Data from the study showed that treatment with the combination was not only achieved positive clinical responses in HPV- HNSCC patients, but even showed evidence of activation of immune responses. The combined therapy was also found to be safe and well-tolerated in study participants.
This biotechnology company is expected to post quarterly loss of $3.36 per share in its upcoming report, which represents a year-over-year change of -1868.4%. Revenues are expected to be $238.56 million, down 87.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Moderna, the consensus EPS estimate for the quarter has been revised 9.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MRNA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moderna belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Rhythm Pharmaceuticals, Inc. (RYTM - Free Report) , closed the last trading session 4.3% higher at $43.61. Over the past month, RYTM has returned 3.2%.
Rhythm Pharmaceuticals' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.12. Compared to the company's year-ago EPS, this represents a change of -130.4%. Rhythm Pharmaceuticals currently boasts a Zacks Rank of #3 (Hold).