Moderna Stock Forecast 2023: Will MRNA Rise or Fall in 2023?
Moderna Inc Latest Price
Moderna Inc is a pharmaceutical and biotechnology company based in Cambridge, Massachusetts, focusing on RNA therapeutics and primarily mRNA vaccines. Molecule messenger RNA (mRNA) is used by these vaccines to produce an immune response. The company’s commercial product includes the Moderna COVID-19 vaccine.
The company has 23 other treatment and vaccine candidates out of which 15 have entered clinical trials. Vaccine candidates include HIV, influenza, a combined single shot for COVID-19 booster, and two cancer vaccines.
The former company’s name was ModeRNA Therapeutics (2010-2018). In 2018, the company rebranded as “Moderna Inc” and further increased its portfolio. In December 2018, Moderna went public with the largest biotech IPO raising $621 million (27 million shares at $23 per share
MRNA has 48 drug projects in the pipeline and 35 ongoing clinical trials. Despite being a pharmaceutical company it was ranked 6th on Deloitte’s technology fast 500 growing companies. It was one of those rare jewels that gave out robust earnings during the pandemic.
- For the 3rd quarter, Moderna reported revenue of $3.4 billion, more than a billion dollar decline from the previous quarter which was $4.7 billion.
- Net income recorded for the 3rd quarter was $1 billion, in Q2 it was $2.1 billion and in Q1 it was reported as $3.6 billion.
- EBITDA for the latest quarter was $1.2 billion and EPS for the same is $2.53, however, EPS in Q2 was $5.2.
- The company’s total research and development expenses are $820 million.
Moderna Stock Technical Analysis
In August 2021, the period of peak COVID, the MRNA stock zoomed closer to $500. MRNA was trading below $100 in the pre-Covid time. However, after that surge, the MRNA stock price has been on a downtrend and reached below $120 in the first week of October 2022.
Moderna Stock Price has been on a rise in January 2023. The stocks have risen from being marginally above $170 to close to $200 in the first three weeks of trade in 2023.
MRNA stock prices are now marginally below its 52-week high price of $217.25. The 52-week low price of Moderna stock is $115.03.
Performance on the last Trading Day
- Open Price: $190.69
- Close Price: $197.02
- Gain/Loss: +3.32%
- Overall Market Cap: $75,691,236,00
Understanding Moderna Stock Prediction using Technical Indicators
The 4-hour chart above shows the curved-shaped reversal of MRNA stock price and Moderna is trading above both 50-day and 200-day moving average prices. The 50-day MA (black) is serving as support for the MRNA stock. In case Moderna shares falls below the 50-day MA support level, the 200-day MA at $148.03 will serve as a lower support level.
Currently, Moderna has its first level of resistance at $$187.21. Moderna’s share price breaking over it may move closer to $200 with $199.09 serving as a higher resistance level.
Moderna is currently bullish and it is in a zone where both short-term as well long-term investors would be profitable.
RSI and Momentum Osciallator
The MRNA stock price retreated marginally in the final hours of the trade on the last trading day. MRNA has remained below $200 and looking at the above chart, MRNA stock is likely to remain below $200 as of now.
The 50-day Moving average which is around $189.4 is acting as a first support level for Moderna stock price. MRNA net stock price has been above the 50-day as well as 200-day moving averages.
The first level of resistance for MRNA is $212.59. On the candle stick chart, the MRNA stock has formed a bearish engulfing form. It indicates more sellers have entered. Therefore, the price is likely to fall on the next trading day.
The RSI for MRNA is at 60.83. The RSI is once again seeing a reversal and it is on a downtrend once again. The RSI indicates the sellers have once again entered the market and the MRNA share price is set to fall on the next trading day.
The Stochastic RSI is within the over brought territory but it is now on a downtrend. This indicates the sellers are outnumbering the buyers.
Added to it, on the MACD chart, the trading volume has fallen for MRNA. However, the MACD series proper is above the 9-day EMA. It is a buy signal.
Overall MRNA stock is bearish for the next trading day.
Moderna Stock Forecast for the Next 12 Months
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.