DB - Why Moderna Stock Is Falling Today
Shares of Moderna (NASDAQ: MRNA) were falling 5.4% as of 11 a.m. EDT on Friday. The decline came after Deutsche Bank (NYSE: DB) initiated coverage on the stock with a sell rating. The investment firm set a price target for Moderna of $250, roughly 26% below the closing price on Thursday.
It's not surprising that the vaccine stock dropped after Deutsche Bank's announcement. What might be at least a little surprising is how much more pessimistic the firm is compared to many other Wall Street analysts. The consensus price target for Moderna is close to $340, roughly in line with the stock's closing price yesterday.
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Why Moderna Stock Is Falling Today