Moderna (MRNA)
Commercializes mRNA respiratory vaccines while developing oncology and rare-disease therapies.
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Develops mRNA medicines and earns product revenue from Spikevax and mNEXSPIKE COVID-19 vaccines, mRESVIA for RSV, and EU-authorized mCOMBRIAX for influenza and COVID-19. Commercial sales remain dominated by seasonal COVID-19 demand while the pipeline spans infectious-disease vaccines, oncology, and rare-disease therapeutics.
Develops and commercializes messenger RNA vaccines and therapeutics through an integrated platform spanning drug discovery, clinical development, manufacturing, and sales. Marketed products include Spikevax and mNEXSPIKE for COVID-19, mRESVIA for RSV, and the EU-authorized mCOMBRIAX combination vaccine for influenza and COVID-19.
Generates product revenue chiefly from seasonal respiratory vaccines sold through U.S. commercial channels and to governments and international organizations. A global manufacturing network supports local supply partnerships, while the clinical pipeline extends into standalone influenza and other infectious-disease vaccines, individualized cancer therapy with Merck, and rare-disease therapeutics.
Most revenue still comes from COVID-19 vaccines, with RSV sales remaining limited. Results depend on seasonal vaccination demand, regulatory and reimbursement decisions, strain updates, manufacturing quality and capacity planning, and successful clinical development; the business is managed as one mRNA-based medicines segment.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 3, 2026 | UBS | Downgrade | Target: $150 | Target: $81 |
| Sep 3, 2026 | Rothschild & Co | Downgrade | ||
| Aug 28, 2026 | Bradesco | Upgrade | Rating: — | |
| Aug 28, 2026 | Deutsche Bank | Initiate | Rating: — | |
| Aug 28, 2026 | CLSA | Upgrade | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $5.14B · Total debt $1.29B · Total assets $10.96B · Shareholders' equity $6.76B
- Revenue
- $145.0M
- Operating income
- −$815.0M
- Net income
- −$782.0M
No dividends on record.
| Institutions | 81.06% | 323.61M shares | |
|---|---|---|---|
| 862 holders · as of Jun 30, 2026 | |||
| Insiders | 7.14% | 28.50M shares | |
| 12 holders · as of Sep 16, 2026 | |||
| Strategic holders | 6.93% | 27.66M shares | |
| 1 holder · as of Feb 4, 2022 | |||
| Other | 4.87% | 19.47M shares | |
| remainder | |||
399.24M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 12.99% | 51.86M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 7.66% | 30.60M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 6.93% | 27.66M | filed Feb 4, 2022 |
Stephane Bancel1Insiderdirector, officer: Chief Executive Officer | 6.61% | 31.14M | filed Aug 7, 2026 |
Vanguard Capital Management LLCInstitution | 5.81% | 23.21M | as of Jun 30, 2026 |
- Stephane Bancel's transaction reports restate only vehicles that traded; the 2019 ownership statement (31.14M) less the 4.76M net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Stephen Hoge | officer: President | −40,281 | $146.07 |
| Sep 14, 2026 | Stephen Hoge | officer: President | −40,294 | $144.13 |
| Sep 10, 2026 | James M. Mock | officer: Chief Financial Officer | −34,836 | $134.49 |
| Sep 1, 2026 | Shannon Thyme Klinger | officer: Chief Legal Officer | −3,471 | $139.95 |
| Aug 5, 2026 | Stephane Bancel | director, officer: Chief Executive Officer | −499,246 | $57.52 |
- Pfizer
Commercial pressure across mRNA COVID and RSV vaccines
- BioNTech (ADR)
mRNA platform rival in COVID vaccines and oncology
- GSK (ADR)
Adult RSV leader with mRNA flu and flu/COVID pipeline
- Sanofi (ADR)
Flu incumbent with RSV and COVID combination reach
- Novavax
Protein-based COVID and flu/COVID alternative
- AstraZeneca (ADR)
RSV prevention overlap through Beyfortus
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Moderna | $168.87 | −2.34% | $68.62B | — | — | 30.8 | +2.1% |
| Pfizer | $27.72 | −0.18% | $158.10B | 36.7 | 9.9 | 2.5 | +2.6% |
| BioNTech (ADR) | $98.53 | +0.45% | $24.62B | — | — | 8.1 | −60.7% |
| GSK (ADR) | $50.74 | −0.73% | $102.34B | 16.1 | 9.3 | 2.3 | +5.3% |
| Sanofi (ADR) | $42.49 | −0.08% | $102.05B | 75.6 | — | 1.8 | +11.2% |
| Novavax | $10.50 | +0.80% | $1.71B | — | — | 4.1 | −76.3% |
| AstraZeneca (ADR) | $168.29 | +0.14% | $260.70B | 25.2 | 15.8 | 4.2 | +6.4% |
| Median | 30.9 | 9.9 | 3.3 | +4.0% |