Moderna slips after Citi downgrades MRNA to sell
Moderna shares fell 6.2% to $190.89 premarket after Citigroup downgraded MRNA to "sell" from "neutral"; Citi raised its price target to $80 from $60.
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Citi downgrades Moderna to Sell, raises price target to $80
Citi analyst Geoff Meacham downgraded Moderna (MRNA) to Sell from Neutral and raised the price target to $80 from $60. The note cites valuation after the shares are up 222% since the Interpath-001 trial results, and says Moderna’s market cap is similar to Regeneron despite materially lower expected revenue and earnings