Moderna Inc. (NASDAQ: MRNA) stock rose in Wednesday premarket trading after gaining 3.4% in the previous session, as investors reacted to the company's latest progress in expanding its infectious disease pipeline with an investigational Ebola vaccine. Moderna Begins Phase 1 Trial For Ebola Vaccine
Moderna has initiated a Phase 1 clinical trial evaluating mRNA-1469, an investigational vaccine designed to prevent Bundibugyo ebolavirus disease, for which no licensed vaccines currently exist.
The study is being conducted in Canada as part of a collaboration with the Coalition for Epidemic Preparedness Innovations (CEPI), which has committed up to $50 million to support preclinical testing and the Phase 1 trial.
The partnership also includes funding for the scaled manufacturing of additional clinical trial doses alongside early-stage development.
The strategy is designed to accelerate the start of larger Phase 2 and Phase 3 studies if Phase 1 results are positive.
Under its agreement with CEPI, Moderna has committed to making at least 500,000 doses available at access pricing for timely distribution to low- and middle-income countries.
Analyst Outlook
The stock carries a consensus Hold rating with an average analyst price forecast of $52.11. Recent analyst actions include:
- Citigroup: Neutral; raised price forecast to $60 on Aug. 3.
- Goldman Sachs: Neutral; raised price forecast to $67 on July 21.
- Morgan Stanley: Equal-Weight; raised price forecast to $39 on July 8.
Several healthcare and biotechnology ETFs have meaningful exposure to Moderna, including:
- iShares Biotechnology ETF (NASDAQ: IBB): 2.25% weighting.
- Invesco S&P 500 Equal Weight Health Care ETF (NYSE: RSPH): 2.44% weighting.
- Invesco Dorsey Wright Healthcare Momentum ETF (NASDAQ: PTH): 2.51% weighting.
Price Action
MRNA Stock Price Activity: Moderna shares were up 1.25% at $57.70 during premarket trading on Wednesday, according to Benzinga Pro data.