.September 12, 2024 (Friday) 8:00:08 PM

Jefferies downgraded Moderna Inc. (NASDAQ:MRNA) from Buy to Hold on September 12, 2024, shifting their outlook on the biotech company. Despite the S&P 500’s 0.8% increase, Moderna’s shares fell by -12.36% due to reduced R&D spending. The market’s positive momentum was driven by lower wholesale inflation and expectations of favorable Federal Reserve interest rate decisions. Moderna’s stock price fluctuated between $64.11 and $70.85 during the trading day, reflecting volatility. With a market cap of $26.78 billion, Moderna’s strategic decisions and market reactions play a crucial role in its performance.