Moderna Inc (NASDAQ:MRNA) is up 3.6% at $58.30 ahead of the open, after the U.S. Food and Drug Administration (FDA) approved the company's mRNA-based seasonal flu vaccine, mFluvis, for adults ages 50 and older. The approval marks Moderna's second commercial mRNA vaccine, expanding its respiratory vaccine portfolio beyond Covid-19.
MRNA experienced a sharp pullback from its July 6 annual high of $85.60 and is now consolidating below the $60 level, which provided support for downturns in March and May. The stock has shed 31.2% over the past month, but remains up 90.8% in 2026 and 104.8% over the last 12 months.
Wall Street remains skeptical. Of the 23 analysts covering Moderna, 18 carry a "hold" rating, while just two say "strong buy" and two say "strong sell." Plus, the 12-month consensus price target of $55.12 is a small discount to current levels.
Short interest is also notable, with 14.3% of the stock's available float sold short. It would take nearly seven days for shorts to buy back their bets, at MRNA's average pace of trading.
