Moderna shares fall amid valuation concerns

Moderna Inc shares dropped 9.2% in morning trading on Friday, reaching a session low of $214.30 as investors took profits and reacted to analyst commentary highlighting valuation concerns.

Goldman Sachs raised its price target on the biotech company to $137 from $120 while keeping a Neutral rating on the stock. The new target remains substantially below the current trading price, drawing attention to the gap between Wall Street's fundamental estimates and the stock's recent trading levels.

The decline followed a Form 144 filing disclosed on October 15 that showed a potential sale of restricted or control securities by a company insider.

Citigroup downgraded Moderna to Sell in late September, stating that the stock's 2026 rally had pushed its market capitalization to levels comparable to larger and more profitable pharmaceutical companies. The bank's valuation model suggested a price well below current trading levels.

The stock had been among the top performers in the biotechnology sector before Friday's pullback.

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