Moderna (NASDAQ:MRNA) Issues Quarterly Earnings Results

Moderna (NASDAQ:MRNA) issued its quarterly earnings data on Friday. The company reported ($2.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.79) by $0.68, FiscalAI reports. The business had revenue of $678.00 million for the quarter, compared to the consensus estimate of $611.14 million. Moderna had a negative return on equity of 29.81% and a negative net margin of 139.61%.The company’s quarterly revenue was down 33.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.91) earnings per share.

Here are the key takeaways from Moderna’s conference call:

• The FDA issued a refusal‑to‑file for Moderna’s seasonal flu candidate mRNA‑1010, delaying U.S. approval and forcing a Type A meeting to define next steps — this creates regulatory uncertainty that could postpone U.S. launches and affect related revenue timing.
• Moderna cut operating expenses by about $2.2 billion (≈30%) in 2025, finished the year with $8.1 billion in cash and investments, and expects to end 2026 with $5.5–$6.0 billion of cash while targeting $4.2 billion of cash costs, providing runway while advancing the pipeline.
• Commercial momentum is strong — mNEXSPIKE captured ~24% of the U.S. retail COVID market (34% in ages 65+), and management expects up to 10% revenue growth in 2026 driven by international launches, local manufacturing in the U.K./Australia, and multi‑year government agreements.
• Multiple pipeline catalysts are upcoming — INT (individualized cancer therapy) reported positive 5‑year phase‑2 melanoma data and has several fully enrolled late‑stage trials (melanoma, RCC, muscle‑invasive bladder), while norovirus and propionic acidemia registrational studies are fully enrolled with potential 2026 readouts.

Moderna Trading Up 5.3%

Shares of MRNA opened at $42.23 on Friday. The firm has a fifty day moving average price of $37.26 and a 200-day moving average price of $29.85. The firm has a market capitalization of $16.50 billion, a P/E ratio of -5.81 and a beta of 1.32. Moderna has a 12-month low of $22.28 and a 12-month high of $55.20.

Analyst Upgrades and Downgrades

MRNA has been the topic of several recent research reports. Berenberg Bank set a $28.00 price target on Moderna in a report on Monday, November 17th. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Monday, October 20th. Piper Sandler reissued an “overweight” rating on shares of Moderna in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Moderna from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Bank of America cut their price target on shares of Moderna from $24.00 to $21.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $28.77.

Insiders Place Their Bets

In other Moderna news, Director Noubar Afeyan sold 23,853 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.48, for a total value of $703,186.44. Following the transaction, the director directly owned 3,924 shares in the company, valued at $115,679.52. This represents a 85.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FORA Capital LLC bought a new stake in Moderna during the 4th quarter valued at $760,000. Stifel Financial Corp increased its stake in shares of Moderna by 290.8% during the fourth quarter. Stifel Financial Corp now owns 57,253 shares of the company’s stock valued at $1,688,000 after buying an additional 42,604 shares during the period. Hudson Bay Capital Management LP raised its holdings in shares of Moderna by 344.7% in the fourth quarter. Hudson Bay Capital Management LP now owns 244,594 shares of the company’s stock valued at $7,213,000 after acquiring an additional 189,594 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Moderna by 18.2% in the fourth quarter. Neuberger Berman Group LLC now owns 93,920 shares of the company’s stock worth $2,770,000 after acquiring an additional 14,440 shares during the period. Finally, Commerce Bank grew its holdings in Moderna by 7.1% during the 4th quarter. Commerce Bank now owns 34,667 shares of the company’s stock worth $1,022,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors own 75.33% of the company’s stock.

Key Headlines Impacting Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Q4 results beat expectations: Moderna reported a narrower-than-expected loss (GAAP EPS -$2.11) and revenue above estimates, driven by stronger COVID-19 vaccine sales; management reiterated a ~10% revenue growth target for 2026, pushing near-term sentiment. Moderna beats fourth-quarter revenue estimates
• Positive Sentiment: Unusually large bullish options flow: Traders bought about 146,946 call contracts Friday (≈75% above typical call volume), signalling outsized short-term bullish positioning that can amplify upside moves if momentum continues.
• Neutral Sentiment: Technical picture is mixed but showing early bull signals: Several technical analysts point to support holding after a sharp YTD rally and highlight possible breakout targets above recent resistance — this supports momentum trading but also implies higher volatility. Moderna Price Forecast: Breakout Signals New Bull Trend
• Neutral Sentiment: Pipeline & operational updates: Norovirus Phase 3 is fully enrolled and other trials progressed; management also highlighted international manufacturing capacity — positive for long-term value but timeline-driven. Q4 press release / slide deck
• Negative Sentiment: Major regulatory setback: The U.S. FDA issued a refusal-to-file for Moderna’s new mRNA flu vaccine application, citing trial issues; Moderna has requested a Type A meeting, but the decision raises near-term uncertainty for one of its key pipeline catalysts and could pressure valuation. FDA refuses Moderna’s application for new mRNA flu vaccine
• Negative Sentiment: Volatility and mixed market reaction: Despite the beat, some outlets note the stock’s sharp pullback from the 52-week high and intraday swings after earnings — a sign investors are split between near-term optimism and longer-term execution/regulatory risks. Moderna Reports a Narrower-Than-Expected Loss. The Stock Falls After Earnings.

About Moderna

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.