Yesterday's slide leaves Moderna traders hoping for a bounce

Published: January 26 2023, 05:46 GMT+0

Yesterday's slide leaves Moderna traders hoping for a bounce

A quick look at yesterday: in yesterday's bearish session, the mRNA medicines company shed around 1.88% in quick fashion, found support around the $189.75 level and finally closed at $193.07. In contrast, the day's events followed Tuesday's session in which the stock closed at $196.76.

  • The day's trading volume totalled 2.29 million shares — lower than the 21-day average of 4.25 million.

With around 8 hours until market open on the NASDAQ, yesterday's session was notable in that Nasdaq fell 0.18% and reached 11,300. Moderna ended the day at $193.07, doing worse than the Healthcare sector which saw a 0.136% increase this session.

The mRNA medicines company has managed to gain 9.93% so far this year despite trading at lows around $117.13 previously. So far this year, it has been outperforming the Nasdaq by 1.76%. Moderna has a market cap of $74.17 billion with an average daily trading volume of 4.25 million shares. Moderna last reported revenue of $3.36 billion with an EPS of $2.53.

Moderna was not the only decliner in the health care sector; Abbott Laboratories stumbles 1.36% yesterday to close at $112.53.

On the other hand, positive performances could be seen by looking at other health care stocks as Bristol-Myers Squibb Company added 1.15% to its value, and traded at $73.17. Pfizer gained 0.81%, as it traded at $45.07.