The shares of Moderna Inc. tanked 11% on Friday, leading losses on the Nasdaq 100, with the index struggling in the past couple of days amid a selloff.
Even though Goldman Sachs recently raised Moderna's stock price target, it left its rating at "neutral," suggesting a "wait-and-see" approach rather than buy. Such a rating can sometimes bring the firm's future growth trajectory into question, especially in this case, where Goldman Sachs' stock price target of $137 would mean a possible decline of around 42% from Moderna's Thursday closing price of $236.50. In addition to this, yesterday's Form 144, or a notice of proposed stock sales, filed by Moderna President Stephen Hoge in the value of $8.6 million, also seemingly raised caution among investors.
https://breakingthenews.net/Article/Moderna-drops-11-amid-neutral-rating/67335846
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