Moderna (MRNA) closed at $34.45 in the latest trading session, marking a -1.98% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.12%. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Shares of the biotechnology company have depreciated by 15.99% over the course of the past month, underperforming the Medical sector's loss of 2.25% and the S&P 500's loss of 3.45%.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$3, marking a 645.45% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $991.88 million, indicating a 64.71% downward movement from the same quarter last year.
Any recent changes to analyst estimates for Moderna should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Moderna holds a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MRNA in the coming trading sessions, be sure to utilize Zacks.com.
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