Moderna booster update fails to impress SVB Securities
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SVB Securities, the only Wall Street firm to have a Sell equivalent rating on Moderna (NASDAQ:MRNA), remains unimpressed even after the COVID-19 vaccine maker said on Wednesday that a booster candidate targeting the Omicron variant outperformed its current vaccine.

âWe continue to see underlying demand for vaccines eroding rapidly, making todayâs data release a theatrical exercise, rather than a financially meaningful one,â the analyst Mani Foroohar wrote, reaffirming the Underperform rating on the stock.
With an insufficient pipeline of new drugs to replace COVID vaccine sales, Modernaâs (MRNA) failure to use profits to drive needle-moving deals is âmystifying,â Foroohar argued.
As demand for COVID-19 shots drops, the trial results for the booster named mRNA-1273.214 will have no impact on revenue, the analyst added, noting that the company reiterated its plans to deliver it in place of the original vaccine.
Last April, Moderna (MRNA) Chief Executive StÃ©phane Bancel said mRNA-1273.214 remained the companyâs lead candidate for the 2022 fall booster campaign in the Northern Hemisphere.