Key Highlights
- Moderna shares rallied 13% to reach $67.50, approaching its strongest closing level 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 scheduled to commence in 2027
- Jefferies analyst Andrew Tsai upgraded his target from $45 to $53; Piper Sandler boosted its projection from $69 to $77
- The stock has more than doubled this year as enthusiasm builds around its diversified product portfolio beyond coronavirus vaccines
Shares of Moderna (MRNA) climbed 13% to $67.50 during Friday’s trading session, securing its position as the top-performing stock in the S&P 500 index. This rally positions the biotechnology company for its strongest closing price since September of last year.
The driving force behind this momentum was the company’s strategic investor day presentation delivered on Thursday, where management unveiled comprehensive plans to diversify beyond its coronavirus vaccine foundation.
The most significant revelation was mRNA-6007, Moderna’s inaugural in vivo CAR-T therapy program. This innovative methodology genetically modifies T-cells directly within the patient’s body instead of through external laboratory processes. The approach offers significant advantages in both cost reduction and treatment speed compared to conventional ex vivo CAR-T methodologies.
Moderna announced that human clinical trials for mRNA-6007 are targeted to begin in 2027. The therapy will initially address B-cell-mediated autoimmune disorders, with systemic lupus erythematosus serving as the primary indication. This chronic condition causes the body’s immune system to mistakenly attack its own healthy tissues.
The move positions Moderna alongside other pharmaceutical giants pursuing similar therapeutic avenues. Eli Lilly (LLY), whose shares also rose 6% on Friday due to separate developments, recently acquired Orna Therapeutics to gain access to its leading in vivo CAR-T technology platform.
Broadening Product Portfolio
Beyond the CAR-T initiative, Moderna presented its development pipeline organized into three strategic phases. The initial phase encompasses advanced-stage candidates and existing commercial offerings. The subsequent phases detail emerging programs spanning cancer treatments, respiratory illnesses, and uncommon diseases.
Andrew Tsai from Jefferies highlighted that the early-stage cancer research “has potential to significantly broaden the mRNA portfolio.” He specifically pointed to T-cell engager therapies aimed at multiple myeloma and ovarian cancer as particularly promising candidates.
Tsai elevated his price projection from $45 to $53 while maintaining his Hold recommendation. He emphasized that the more critical near-term catalyst isn’t the CAR-T program but rather the anticipated Phase III melanoma trial results due in late 2026, which he characterized as “a pivotal milestone” for shareholders.
Edward Tenthoff from Piper Sandler expressed greater optimism. He increased his price target from $69 to $77 while reaffirming an Overweight stance, crediting the comprehensive advancement demonstrated during the investor presentation.
Evolution Beyond Coronavirus Products
Moderna’s current revenue base remains predominantly supported by three vaccine products. However, Jefferies analyst Tsai projects this could expand to over seven commercialized therapies spanning various therapeutic areas within the coming 24 months.
This transformation represents a substantial evolution from 2020, when the company’s sole marketed product was the Spikevax coronavirus vaccine.
Moderna’s stock price has surged more than 100% year-to-date as market sentiment strengthens regarding this strategic transformation. The melanoma development program, being advanced in partnership with Merck, has been instrumental in driving this positive outlook.
Friday’s strategic presentation intensified this momentum, with the CAR-T disclosure emerging as the most unexpected highlight of the gathering.
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