NEW YORK, June 26, 2026, 12:01 EDT
- Moderna shares jumped 13.9% to $68.06 in late-morning U.S. trade, beating the main biotech ETFs.
- That price increase added roughly $3.3 billion in equity value based on Moderna’s weighted share count from the first quarter.
- Moderna shares moved after its June 25 Science Day. The company added mRNA-6007, an in vivo CAR-T program for autoimmune disease, into its investor pitch.
Moderna, Inc. NASDAQ:MRNA surged 13.9% to close at $68.06 on Friday. That move was about five times bigger than gains for the SPDR S&P Biotech ETF (NYSEARCA:XBI) and the iShares Biotechnology ETF (NASDAQ:IBB). XBI and IBB each added 2.7%.
The standout detail was how big the repricing was. With Moderna’s 395 million average shares from Q1, Friday’s move of $8.31 per share added about $3.3 billion to its equity value. That’s higher than the $3.0 billion R&D spend Moderna predicted for 2026. It’s also close to 44% of Moderna’s $7.5 billion in cash, cash equivalents and investments as of March 31.
The move is important for investors since the rally wasn’t about this year’s sales. Moderna outlined a longer-range pipeline at its Science Day, pitching a three-horizon plan and details on mRNA-6007, an in vivo CAR-T aimed at wiping out B cells in autoimmune cases. The first trial will look at systemic lupus erythematosus.
Moderna CEO Stéphane Bancel said in a Science Day post that the company is “building a platform capable of repeatedly creating new medicines.” He also said Moderna is targeting cash breakeven by 2028. Moderna
Moderna said mRNA-6007 relies on targeted lipid nanoparticles and multiplexed mRNA to get mRNA into immune cells, aiming for temporary CAR expression and maybe an immune reset. The company said the delivery tech could also work in other autoimmune diseases and eventually oncology.
Moderna’s chief scientific officer for therapeutics research, Lin Guey, described mRNA-6007 as a “scalable, controllable way to reset pathogenic B-cell immunity,” according to pharmaphorum’s summary of the company’s Science Day remarks. The report said investigational new drug studies have started, with human testing yet to come. pharmaphorum
Moderna shares were headed for their highest finish since September 2024 on Friday, leading the S&P 500, Barron’s said. Jefferies analyst Andrew Tsai told Barron’s the company’s in vivo CAR-T and T-cell engager efforts could “meaningfully diversify the mRNA pipeline.” But Tsai pointed to Phase III melanoma data due late 2026 as the bigger catalyst for Moderna’s stock. Barron’s
Piper Sandler’s Edward Tenthoff bumped up his Moderna target to $77 from $69 and stuck with an Overweight call, per StreetInsider and TipRanks on Friday. The new target put the stock about 13% higher than where it traded in late morning.
Moderna surged far ahead of a bearish target from BofA Securities, which last called a $34 price and an Underperform, Benzinga said. Friday’s close was close to twice that.
Timing is the concern. Moderna posted $389 million in revenue for the first quarter, with a GAAP net loss at $1.3 billion. Cash and investments dropped to $7.5 billion from $8.1 billion at the end of last year. Moderna now sees year-end cash and investments for 2026 in the $4.5 billion to $5.0 billion range.
Moderna remains focused on vaccines, with products including Spikevax, mNEXSPIKE, and mRESVIA, according to Reuters’ company profile. The pipeline has 35 programs in vaccines and therapeutics, Reuters notes, with six in late-stage development.
