Quick Overview
- Moderna shares surged 13% to $67.50, approaching its highest closing price since September 2024
- The biotech firm unveiled mRNA-6007, its inaugural in vivo CAR-T therapy, focused on autoimmune conditions including lupus
- Human trials for mRNA-6007 are expected to commence in 2027
- Jefferies analyst Andrew Tsai lifted his price target from $45 to $53; Piper Sandler increased their target from $69 to $77
- Year-to-date, Moderna shares have more than doubled as enthusiasm grows for its diversified pipeline beyond COVID-19
Shares of Moderna (MRNA) skyrocketed 13% to reach $67.50 during Friday’s trading session, positioning the biotech company as the top gainer in the S&P 500 index. This performance sets up the stock for its strongest close since September of last year.
The rally was triggered by the company’s investor day presentation on Thursday, where executives unveiled an expansive strategy to diversify beyond its coronavirus vaccine franchise.
The centerpiece of the presentation was the introduction of mRNA-6007, Moderna’s inaugural in vivo CAR-T therapy. This innovative methodology programs T-cells directly within the patient’s body instead of extracting and modifying them externally in laboratory settings. The approach promises reduced costs and accelerated treatment timelines compared to conventional ex vivo CAR-T methodologies.
Moderna announced its intention to initiate clinical trials for mRNA-6007 in 2027. The therapy will initially target B-cell-mediated autoimmune disorders, with systemic lupus erythematosus — a chronic condition characterized by immune system dysfunction — serving as the primary indication.
Moderna’s entry into this therapeutic area places it alongside other pharmaceutical giants pursuing similar innovations. Eli Lilly (LLY), whose stock also rose 6% on Friday due to separate developments, recently completed an acquisition of Orna Therapeutics to secure access to a leading in vivo CAR-T technology.
Broadening Therapeutic Portfolio
Beyond the CAR-T announcement, Moderna detailed its development pipeline across three strategic phases. The initial phase encompasses advanced-stage candidates and marketed products. The subsequent phases extend into emerging programs spanning oncology, respiratory illnesses, and orphan diseases.
Andrew Tsai from Jefferies highlighted that the company’s early oncology initiatives “can meaningfully diversify the mRNA pipeline.” He specifically identified T-cell engagers for multiple myeloma and ovarian cancer as particularly promising assets.
Tsai elevated his price target from $45 to $53 while maintaining a Hold recommendation. He emphasized that the most significant near-term catalyst isn’t the CAR-T program but rather Phase III melanoma trial results anticipated in the latter half of 2026, which he described as “a major event” for shareholders.
Piper Sandler’s Edward Tenthoff expressed greater enthusiasm. He boosted his price target from $69 to $77 while reaffirming an Overweight rating, highlighting the comprehensive progress demonstrated during the investor presentation.
Transformation Beyond Pandemic Products
Moderna’s revenue base currently relies heavily on three vaccine products. However, Jefferies analyst Tsai projects this could expand to more than seven commercialized products spanning various therapeutic areas within the next two years.
This represents a remarkable evolution from 2020, when the company’s sole marketed product was the Spikevax COVID-19 vaccine.
Year-to-date, Moderna’s stock has more than doubled in value as investors grow increasingly confident in this strategic transformation. The melanoma candidate, developed in partnership with Merck, has been instrumental in driving this positive sentiment.
Friday’s investor day intensified this momentum, with the CAR-T revelation emerging as the presentation’s most unexpected highlight.
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