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- 1 MRNA stock has followed a bullish trend after the bio-tech company released its Q1 2023 results.
- 2 The stock dropped nearly 12% in one month while its year-to-date drop is almost 24%.
MRNA Stock Price, Moderna (NASDAQ: MRNA) stock witnessed a bullish outlook after the company released its first-quarter results. After the release of its Q1 earnings, the company has performed quite better than expected. The revenue was generated from the sales of Moderna’s Covid-19 vaccine product. This revenue report also supported the price surge of MRNA stock. The investors showed less confidence as they were expecting the company would report a loss in Q1 2023. But after the announcement, Moderna Inc. reported positive earnings.
MRNA Stock Price Analysis
In mid-April, active bears in the market pulled down the price of MRNA stock. Due to this, the biotech stock has dropped in the price of almost $130.00. Then near Moderna Inc.’s Q1 results, the stock took a bullish move. On May 4th, when the company released its Q1 earnings and revenue the share price of this biotech stock started following a bullish trend. Active bulls in the market pulled the price of MRNA stock from almost $135.00 to nearly $137.00.
On May 5th, the stock closed at the price of $137.04 while the pre-market price of MRNA stock is at $136.20. This clearly shows nearly 0.61% of the drop. However, the RSI of this stock has started showing a bullish trend. The recent closing price of this biotech stock is quite far from its 20-day EMA. The active bulls would try to pull up the price of MRNA stock in its next trading session. However, the pre-market price has already shown a little decline.
As shown in the above chart, for MRNA stock the analysts have set their 1-year price target at $216.00. It is nearly 57% up from its recent closing price. Additionally, they are offering 1-year forecasts with a maximum estimate of $430.00 and a minimum estimate of $93.00.
Moderna Inc.’s Q1 Earnings & Revenue Report
On May 4th, Moderna Inc. reported its Q1 2023 earnings and revenue. According to its financial stats and ratios, MRNA stock’s price-to-sales ratio is 3.65. Its EPS for Q1 2023 is $0.19 whereas the estimation was $-1.75 which accounts for a 110.87% surprise. The total revenue of Moderna for Q1 2023 is $1.86 Billion, and it’s 62.94% lower compared to the previous quarter. The net income of Q1 23 is $79.00 Million.
The estimated earnings for Q2 2023 are $-3.82, and revenue is expected to reach $403.81 Million.
Disclaimer
The views and opinions stated by the author, or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
