Moderna COVID-19 vaccine data for kids “doesn’t move the needle” - BofA
Joe Raedle/Getty Images News


Moderna (NASDAQ:MRNA) shares are continuing to trade lower Thursday even after the company outlined its plans for regulatory authorizations for the use of its COVID-19 vaccine in kids.

Commenting on the development, Bank of America analysts led by Geoff Meacham attribute the weakness to the lack of upside the newly targeted population can bring to the companyâs revenue outlook for 2022.

In addition, the analysts note that the likely transition of COVID-19 to an endemic status, and new vaccine entrants as well as oral antivirals âcould create a headwind for core Spikevax franchise.â
According to them, the investors are eager to see how the company can diversify the core messenger RNA vaccine platform and advance its flu vaccine candidate and vaccine programs against respiratory syncytial virus and Cytomegalovirus.
However, the firm expects the company to transform its COVID-19 benefit into long-term opportunities. 
BofA has a Neutral rating on Moderna (MRNA), with the price target of $180 per share, implying a premium of ~1% to the last close.
Read: Today, Moderna (MRNA) raised its commercial guidance for the COVID-19 vaccine.