Profit-taking pressures Moderna after Hahn comments on vaccine timeline

Moderna (MRNA -15.9%) slumps on more than double normal volume on the heels of comments today from FDA Commissioner Stephen Hahn (during the Coronavirus Task Force briefing) that approval of a COVID-19 vaccine is at least a year away which is consistent with health authorities’ expectations from the beginning of the outbreak.

Investors, many apparently optimistic of a shorter timeline, appear to be locking in profits from the recent, albeit volatile, rally.

Other COVID-19 vaccine-related tickers: Pfizer (PFE -6.1%), BioNTech SE (BNTX -29.7%), Johnson & Johnson (JNJ -4.4%), Inovio Pharmaceuticals (INO -14%), Dynavax Technologies (DVAX -1.5%), Tonix Pharmaceuticals (TNXP +2.2%), Applied DNA Sciences (APDN -15.8%), IMV (IMV -11.3%), Vaxart (VXRT -22.9%), iBio (IBIO -20%), Novavax (NVAX +5.3%), Regeneron Pharmaceuticals (REGN +0.1%), Sanofi (SNY -2.4%), GlaxoSmithKline (GSK +0.5%), AbbVie (ABBV +0.5%), Takeda (TAK +5.6%), Heat Biologics (HTBX +4.5%)

https://seekingalpha.com/news/3553448-profit-taking-pressures-moderna-after-hahn-comments-on-vaccine-timeline