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- 1 The MRNA stock price is experiencing a bearish trend which is a result of its poor fundamental performance.
- 2 The firm expected to break even their net losses by 2026.
- 3 The current patterns in stock prices are showing a bullish bounce-off.
The pharmaceutical company, Moderna Inc. (NASDAQ: MRNA), was established in 2010. This moderately new organization is engaged with creating and dispersing inventive medications that depend on messenger ribonucleic acid (mRNA). Today, the organization has a market cap of $27 Billion and its labour force comprises over 3.9K representatives.
MRNA Quarter 3 Financial Highlights
The company reported Q3 sales of $1.8 Billion and expects to close the fiscal year at $6 Billion. The organization is also bullish for the next fiscal year. In the report, they stated an income of roughly $4 Billion in 2024. In addition to this, the organization has reduced its production capacity to save money. This step has led to a total loss of $3.6 Billion in the second quarter.
This loss was primarily driven by non-cash charges of $3.1 Billion related to resizing and a tax valuation allowance. The company’s late-stage pipeline has six Phase 3 programs. They expect to break even in 2026 through product launches and disciplined investment.
The Management is Optimistic
Moderna’s CEO, Stéphane Bancel, has stated that the company has demonstrated its ability to increase its share in the U.S. market during this quarter, and he expects this year’s vaccination rate to be similar to that of last fall.
Bancel also mentioned that in the third quarter, they resized their manufacturing infrastructure significantly to make their COVID-19 franchise profitable for 2024 and beyond.
Stéphane Bancel also appeared in an interview with Yahoo Finance this morning. In the interview, he said that the company is also preparing to launch multiple products through 2025, including its RSV vaccine. He further added that they expect to return to sales growth in 2025 and, through disciplined investment, break even in 2026.
Technical Analysis and Prediction of the MRNA Stock Price
At press time, the MRNA stock price is heavily dominated by bears. A downtrend started in January this year. The current trading price of MRNA is $71.2. Its 50-day EMA price is $94.7 and its 150-day EMA price is $114.
The immediate resistance level from the current trading level is $97.3, while the stock is trading at an immediate support level of $71.3. The MRNA stock price prediction is bullish. After the management’s promising words, good buying levels are seen in the charts.
Conclusion
Moderna Inc. (NASDAQ: MRNA) is a pharma company with over $27 Billion in market cap. The company released its Quarter 3 financial reports yesterday which caused some buying in its stock price. The current price is at a support level but the prediction is bullish.
Technical Levels
- Support Levels: $71 and $53
- Resistance Levels: $97 and $118
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes 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.
