Moderna Inc. Q2 Report of MRNA Stock Outperformed Estimates.

• Moderna stock price has followed a bearish trend after the release of the Q2 report.
• MRNA stock is trading at $108.19 while witnessing a return of -1.60% during the intraday session.
• The year-to-date return of Moderna stock is -40.18% and the three-month return is -19.65%.

Moderna Inc. is a Cambridge (U.S.) based multinational pharmaceutical and biotechnology company focusing on developing transformative medicines based on messenger ribonucleic acid (mRNA). Vaccine makers of Moderna use this copy of a molecular messenger RNA to carry out instructions for proteins to produce  

Q2 Earnings & Revenue Report Of Moderna Inc.

Moderna announced its 2nd quarter earnings and revenue report on August 3, 2023, where reported EPS (earning per share) -$3.62 surpassed the -$3.93 estimated forecast of EPS by $0.31. 

With the positive results on EPS, the MRNA stock price showed similar results with the revenue report as well. The estimated revenue forecast was $307.667 Million, while the reported revenue is $344 Million. Hence, it reflects a surprise of 36.33 Million.

Despite the positive result of Q2 earnings, the MRNA stock price has been observing a downtrend in the market. However, key metrics, such as reported revenue of $344 Million which declined by 92.8% over the same period last year, and -$3.62 EPS compared to $5.24 in the year-ago quarter provide a better insight into a company’s underlying performance.

Factors Affecting The Downtrend.

Moderna and its rivals Pfizer and Novavax have all observed a sheer drop in demand for their Covid-19 vaccines. Amid the new geopolitics and climate change development, the world is moving on from the pandemic. 

Since the mRNA stock price had achieved an annual high of $207.51, the price trajectory favored the market’s bears in the long run. Even after the positive results witnessed in Q1 & Q2 earnings & revenue reports, Modrena’s stock price has shredded down to the December 2020 pre-Pendemic support level of $180.

Technical Analysis of Moderna Inc.

The 52-week low showcased a tremendous drop in the MRNA stock price. However, the Bollinger Band has expanded, which indicates a rise in volatility. The price reached the lower band of Bollinger and might experience a short-term pullback toward the 20-day SMA of Bollinger.  

The MRNA stock price is currently trading below the 20, 50, 100, and 200-day EMA, indicating weakness in the market. However, it reflects the heavy participation of sellers in the market.

The Relative Strength Index (RSI) trades at 27.16; RSI denotes the weakness in the market during the intraday session. However, The current market capitalization of Moderna stock price is $41.17 Billion, with an average volume of 3.70 Million shares.

Conclusion

Modrena expects $6-8 Billion in revenue from the autumn Covid-19 vaccination campaign. There is potential demand for its newly released vaccine on XBB.1.5 Omicron subvariant of about 50-100 Million doses. Although The new development reflects a sign of growth, there is a hope that price action might act in a bullish trend soon.

Technical Levels

Major support: $108.9 and $117.23

Major resistance: $207.51 and $177.37