Moderna Stock Is Surging: What's Going On?

Moderna Inc. (NASDAQ:MRNA) shares are popping Thursday, extending a month-long rally that began with a Phase 3 cancer vaccine breakthrough.

• Moderna shares are powering higher. Why are MRNA shares rallying?

What Sparked the Rally: A Landmark Melanoma Trial Result

Today’s climb adds to a run that’s already left the stock more than 100% over the trailing month. The run traces back to August 19, when Moderna and Merck & Co. Inc. (NYSE:MRK) revealed Phase 3 results from their INTerpath-001 study, showing that pairing Moderna’s individualized cancer vaccine, intismeran autogene, with Merck’s Keytruda produced markedly better outcomes than Keytruda alone in high-risk melanoma patients.

The readout marked the first-ever Phase 3 success for a personalized neoantigen vaccine and for any mRNA-based cancer treatment. The therapy is built individually for each patient based on their tumor’s specific mutations, and no new safety concerns emerged.

Both companies continue advancing a broader clinical program spanning nine trials across melanoma, lung, bladder and kidney cancers.

Wall Street Remains Split, With Real Catalysts Still Ahead

Despite the rally, Moderna’s consensus rating sits at Hold, with an average price target of $91, far under where shares trade today.

Recent analyst moves reflect that split: Rothschild & Co cut its rating to Sell on Sept. 3 while still raising its target to $81, Argus Research upgraded to Buy with a $180 target on August 28, and Wolfe Research lifted its rating to Peer Perform on Aug. 25.

MRNA Shares Are Popping

MRNA Price Action: Moderna shares were up 8.18% at $157.53 at the time of publication on Thursday, according to Benzinga Pro.

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