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Moderna Sinks on AstraZeneca Covid-19 Vaccine Progress, JPMorgan Downgrade

Stock MarketsJul 20, 2020 10:26AM ET
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© Reuters.

By Christiana Sciaudone

Investing.com -- Moderna (NASDAQ:MRNA) dropped 14% after AstraZeneca (NYSE:AZN) and Oxford University said their vaccine candidate showed promise.

The AstraZeneca-Oxford vaccine, AZD1222, is safe and produced an immune response in early-stage clinical trials in healthy volunteers, Reuters reported, citing data from The Lancet. No serious side effects were reported.

JPMorgan (NYSE:JPM) downgraded Moderna, which is working on a separate vaccine candidate, today on a high valuation, to neutral from overweight, The Street reported. Analyst Cory Kasimov boosted his one-year price target to $89 from $60.

Moderna has surged in recent months on vaccine news, quadrupling to more than $80 since March.

Moderna’s vaccine, mRNA-1273, elicited antibodies in all people tested in an initial safety trials, Bloomberg reported last week, though there was a high rate of side effects, with three of 45 people facing severe reactions. Moderna should begin a Phase 3 trial on July 27, The Street said.

Moderna Sinks on AstraZeneca Covid-19 Vaccine Progress, JPMorgan Downgrade
 

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Comments (22)
Vv Pp
Vv Pp Jul 21, 2020 1:00AM ET
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typical US stock market🎈 biggest bubble ever 🎈
Bulls MakeMore
Bulls MakeMore Jul 20, 2020 6:13PM ET
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If it's a good company this is a chance to add more shares, and if it's not a good company then never should have bought...it's that simple really
Boyoung Schang
Boyoung Schang Jul 20, 2020 2:58PM ET
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Shut up JPM!
Alaa Far
Alaa Far Jul 20, 2020 2:58PM ET
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This dude is karen
Alaa Far
Alaa Far Jul 20, 2020 2:58PM ET
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His move costed me a lot
Matt Kay
Matt Kay Jul 20, 2020 2:58PM ET
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Alaa Far  lol, love the spread of Karen
William Turri
William Turri Jul 20, 2020 12:29PM ET
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lots of hype and self promotion, market keeps falling for it...show me the money
Boyoung Schang
Boyoung Schang Jul 20, 2020 12:29PM ET
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Lol
SIMON MOON
SIMON MOON Jul 20, 2020 11:31AM ET
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there will never be a cure. its all political. there is no magic bullet for rhe common flu. there won't be one for this either. its will go away and we live with it
Ryan Droege
Ryan Droege Jul 20, 2020 11:04AM ET
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any vaccine is a long way away unless we fast track it and skip important safety testing. new info suggests antibodies dont hang around long making this at least an annual inoculation... at least. the vaccine news will ****a lot of money in that will vanish. we neveR found a vaccine for the original SARS... FYI. be wary.
Kaveh Sun
Kaveh Sun Jul 20, 2020 11:04AM ET
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Dont matter, ur tcell remembers.
Kaveh Sun
Kaveh Sun Jul 20, 2020 11:04AM ET
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Even ur antibodies go away, ur immune now has experience to fight the virus.
Ryan Droege
Ryan Droege Jul 20, 2020 11:04AM ET
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that's right, tcells are the key
Zac Sun
Zac Sun Jul 20, 2020 10:54AM ET
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vaccine news everyday to boost market.
Sun Moon
Sun Moon Jul 20, 2020 10:52AM ET
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Amazon up on covid fears ???
Kaveh Sun
Kaveh Sun Jul 20, 2020 10:47AM ET
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Just Overdose: If a vaccine produces 4x the needed antibodies, like Moderna. They can reduce dossage.
Mario Rossi
Mario Rossi Jul 20, 2020 10:38AM ET
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No matter what happens, just buy!!!
The Dictator Turtle
The Dictator Turtle Jul 20, 2020 10:36AM ET
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These vaccines will have long term effects...
The Dictator Turtle
The Dictator Turtle Jul 20, 2020 10:36AM ET
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Side-effects
Kaveh Sun
Kaveh Sun Jul 20, 2020 10:36AM ET
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The Dictator Turtle only if they damage other organs because ur body react v iolently to the weaken or dead virus.
Dutch East
Dutch East Jul 20, 2020 10:30AM ET
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how do you spell exploitation of the sick?
Ted Dirty
DirtyTed Jul 20, 2020 10:30AM ET
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So vaccine is available very soon...maybe within  one month.
Kaveh Sun
Kaveh Sun Jul 20, 2020 10:30AM ET
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Not yet: they need to find a correct, safe n effective dossage that all bodies dont over react.
Kaveh Sun
Kaveh Sun Jul 20, 2020 10:30AM ET
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If ur immune system over react, it attacks ur body.
Ryan Droege
Ryan Droege Jul 20, 2020 10:30AM ET
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Bill Gates says best we can hope for is around 700,000 dead from this vaccine. No such thing as "all" will be safe
Ryan Droege
Ryan Droege Jul 20, 2020 10:30AM ET
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Bill Gates says best we can hope for is around 700,000 dead from this vaccine. No such thing as "all" will be safe.
vipul makani
vipul makani Jul 20, 2020 10:15AM ET
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Both Are down short at will
Kennedy Ngarari
Kennedy Ngarari Jul 20, 2020 10:11AM ET
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Moderna dropped due to the JP Morgan downgrade to neutral from overweight.
Julio Cesar Blain
Julio Cesar Blain Jul 20, 2020 10:10AM ET
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Covid-19 Vaccine is a roulette game
Mahmoud Elbolkini
Mahmoud Elbolkini Jul 20, 2020 10:10AM ET
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Russian rooulette i guess bit on the wrong stock and u r a dead meat. e
Hamed Atash
Hamed Atash Jul 20, 2020 10:10AM ET
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that's right
Sean Young
Sean Young Jul 20, 2020 10:09AM ET
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Hmmm.....u sure the J.P. Morgan foengrade had nothing to do with that?
Sean Young
Sean Young Jul 20, 2020 10:09AM ET
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*downgrade
Kennedy Ngarari
Kennedy Ngarari Jul 20, 2020 10:09AM ET
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*downgrade
Kennedy Ngarari
Kennedy Ngarari Jul 20, 2020 10:09AM ET
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Yeap..Thanks Sean.
Faisal Ahmed
Faisal Ahmed Jul 20, 2020 10:09AM ET
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how about gold future
Jeremy Williams
Jeremy Williams Jul 20, 2020 10:08AM ET
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Market has overbaked in vaccine hopes
Luis Rivera
Luis Rivera Jul 20, 2020 10:08AM ET
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everyone will sink lol
Jay Hendrix
Jay Hendrix Jul 20, 2020 10:08AM ET
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Why is azn sinking?
John Vu
John Vu Jul 20, 2020 10:08AM ET
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Selloffs
John Vu
John Vu Jul 20, 2020 10:08AM ET
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Selloffs from sell the news strategy; buy the rumor, sell on the news
Michal Klos
Michal Klos Jul 20, 2020 10:08AM ET
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we should close above 61$ today anyway.
Scott Murphy
Scott Murphy Jul 20, 2020 10:06AM ET
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AZN also sinks...
Laing Kush
Laing Kush Jul 20, 2020 10:06AM ET
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So moderna sinks because of that smh
MM JJ
MM JJ Jul 20, 2020 10:06AM ET
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Sell The news strategy
Vee Sanchez
Vee Sanchez Jul 20, 2020 10:06AM ET
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Is it going to come back up?
 
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