Merck and Moderna report Phase 3 melanoma trial results

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Go back to Merck and Moderna report Phase 3 melanoma trial results

Citi reiterates Sell rating on Moderna with $80 price target

October 23, 2026 9:48 AM EDT

Citi analyst Geoff Meacham reiterated a Sell rating and $80.00 price target on Moderna (NASDAQ: MRNA).

Meacham outlined ten reasons why positive melanoma trial data from the INTerpath-001 study do not address his concerns about the company's valuation. He noted that one successful study in... More