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MRNA
ModernaNASDAQHealth CareBiotechnologySnapshot 2026-06-12
Watch· 1–3 mo
$49.91+0.54%
Close 2026-06-12 · 1-day change
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
The bottom line
Recent financial performance is weak, and earnings quality cannot be assessed since the company was unprofitable over the past year. Management's recent track record has been fairly steady, while risk is elevated and the sector backdrop is a headwind. Peer multiples imply a price about 15% above where it trades (it looks cheap on this basis); the read is fair, but weakening. Key factors to watch include potential guidance cuts and the performance of sector bellwethers like VRTX, REGN, and ARGX. This read is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NASDAQ
- Sector
- Health Care
- Industry
- Biotechnology
- Market cap
- $19.49B
- Employees
- —
- IPO date
- 2018-11-09
- Next earnings
- —
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 2 valuation methods, at three horizons. Current price $49.91. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryinexpensive
$120.64consensus
Range $108.05 – $133.24
vs price: -59% below
Method agreement — · 2 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearfull
$44.28consensus
Range $39.24 – $49.32
vs price: +13% above
Method agreement — · 2 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peerslow confidence
At $50 MRNA trades at 5× p/s, below its 9× p/s peer median. Our $130 fair value sits above the price; low confidence. Analysts: $30–$49. Not investment advice.
Multiple (P/S)
4.6x
peer 9.4x · own history 4.6x
Premium
0.5x peer
1.0x its own history
Growth the price needs
-62%
our forecast -40%
Our fair value
$130.38
range $115.94 – $144.82
Analyst range(a guide on our number, not a target)Our number is above the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
inexpensivefair — but weakening12-month view
What's priced inJustified
The price implies about 62% below a flat-multiple fair value, below our forecast of about -40%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Low fragilityrisk posture, not a price call
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
weakOperating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated weak grew net income 55% of the time over the next year (vs 54% for the rest of the cohort, n=2391).
6th pctl · Health Care
Earnings quality
loss makingOver the trailing year it converted 0.46x of net income into operating cash flow.
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
Management & capital allocation
neutral1 material management or governance event in the past 24 months, led by capital-allocation actions. Historically, Health Care names rated neutral grew net income 58% of the time over the next year (vs 50% for the rest of the cohort, n=842).
Earnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Neutral15 analysts, 17% Buyfor period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $-2.09 → $-2.09 (+0.1% / 30d). 6 raised, 4 cut, 15 covering analysts.
Rating actions
0 upgrades, 0 downgrades / 30d, 1 maintained. 17% of analysts rate Buy.
Sector context
Intermediate · WeeklySector phase: health care is in maturing, with decelerating (~0.5 years in phase).
Sector regime (90d momentum): headwind.Secular epoch: Mature by revenue growth · theme AI-drug-discovery.headwind
Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: strong
- Capital allocation
- strong
- Earnings discipline
- neutral
- Margin discipline
- neutral
- Balance sheet
- neutral
- Post-call reaction
- strong
A guidance track record builds as the company issues and delivers on guidance.
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$191.
How much price usually moves either way.
On a bad day, this stock has moved -$621.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $3,551.
Deepest peak-to-trough drop in the last year.
elevatedas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
The signal changed to mixed. Valuation shifted to fair.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideHigh confidenceQuartersactive 18d
Watch for Q2 revenue growth to meet or exceed 10% YoY
Why it matters: Hitting this growth target will help Moderna recover its revenue.
What confirms / what disproves
Confirms:Q2 revenue growth is reported at or above 10% compared to Q2 2025.
Disproves:Q2 revenue growth falls below 5% compared to Q2 2025.
Management priorities
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for MRNA yet.
This sector is also watching
- Watch for Health Care revenue growth dropping below 8% YoY
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If sector bellwethers like VRTX, REGN, and ARGX keep beating earnings and guiding higher, the Healthcare sector momentum should keep lifting MRNA and other Healthcare names. Worth watching these names for early signals.
- If MRNA raises forward guidance on the next earnings call (currently NEW as of 2026-05-01), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for MRNA and other Healthcare names, since rate-sensitive parts of the market tend to rally when the Fed eases.
Downside triggers
- If MRNA cuts guidance on the next call (currently NEW as of 2026-05-01), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like VRTX, REGN, and ARGX start missing or guiding lower, the Healthcare tailwind helping MRNA and other Healthcare names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-011mo agoItem 2.02
Results of Operations and Financial Condition. On May 1, 2026, Moderna, Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference. The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as…
Earnings preannouncementnegative
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
+18 vs last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.