Moderna (MRNA) closed the latest trading day at $41.66, indicating a +0.6% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.46%. Elsewhere, the Dow saw an upswing of 0.65%, while the tech-heavy Nasdaq depreciated by 3.07%.
Prior to today's trading, shares of the biotechnology company had gained 3.19% over the past month. This has outpaced the Medical sector's gain of 1.84% and the S&P 500's gain of 1.08% in that time.
Market participants will be closely following the financial results of Moderna in its upcoming release. The company is predicted to post an EPS of -$2.94, indicating a 634.55% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $956.79 million, showing a 65.96% drop compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Moderna. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.71% lower within the past month. Right now, Moderna possesses a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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