Moderna hits a six-month low shedding over $15B in value after three-day slide
Maddie Meyer/Getty Images News


Reaching the lowest level since June last year, Moderna (MRNA
-7.5%) is on course to post another multi-day rout after recording losses in back-to-back sessions. The COVID-19 vaccine maker has lost ~$15.6B in market capitalization over the past three days despite the ongoing resurgence of the pandemic in the U.S.

On Monday, the country recorded over 1M cases, more than twice the single-day count of infections recorded anywhere else since the start of the pandemic.
While other COVID-19 vaccine makers such as Novavax (NVAX
-11.9%) and BioNTech (BNTX
-5.4%) are also notable decliners during the day, Pfizer (PFE
+2.0%) has recovered from a two-day skid after Bank of America upgraded the pharma giant to Buy from Neutral.

The analyst Geoff Meacham noted, among other things, the prospects of the companyâs oral COVID pill, Paxlovid, for which the U.S. government doubled its commitment on Wednesday.