Moderna (NASDAQ:MRNA) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Moderna beat quarterly estimates: The company reported an adjusted loss of $1.97 per share, $0.06 better than consensus, while revenue reached $145 million versus expectations of $102.93 million. Revenue increased 2.1% year over year, although Moderna remained deeply unprofitable.
• Cost controls and pipeline catalysts improved: Moderna maintained its forecast for up to 10% revenue growth in 2026 and lowered projected cost-of-sales and R&D expenses by $100 million each. Its seasonal flu vaccine received a unanimous positive FDA advisory recommendation, with a U.S. regulatory decision expected August 5.
• Pipeline risks remain: The Phase 3 norovirus vaccine trial failed to meet interim statistical criteria, requiring an additional cohort and delaying results. Investors also remain concerned about declining COVID-19 vaccine demand and Moderna’s continued net losses.

Moderna (NASDAQ:MRNA - Get Free Report) released its quarterly earnings results on Friday. The company reported ($1.97) earnings per share for the quarter, topping analysts' consensus estimates of ($2.03) by $0.06, FiscalAI reports. The business had revenue of $145.00 million during the quarter, compared to analysts' expectations of $102.93 million. Moderna had a negative return on equity of 26.64% and a negative net margin of 143.55%.The company's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.13) EPS.

Here are the key takeaways from Moderna's conference call:

• 2026 revenue and cost outlook improved: Moderna reiterated revenue growth of up to 10% and lowered its full-year cost-of-sales and R&D forecasts by $100 million each, while reducing expected cash costs by $200 million to approximately $4 billion.
• Flu vaccine advances toward potential approval: mRNA-1010 received a unanimous positive recommendation from the FDA advisory committee, with a U.S. PDUFA decision expected August 5 and regulatory reviews ongoing in Europe, Canada, and Australia.
• mNEXSPIKE showed strong initial commercial traction: The COVID vaccine captured approximately 24% of the U.S. retail market in its first season and about 34% among adults aged 65 and older, supported by encouraging real-world effectiveness data against hospitalization.
• Norovirus vaccine development faces a delay: mRNA-1403 did not meet statistical criteria for early success at its interim analysis, requiring enrollment of an additional cohort and another seasonal period to collect sufficient cases; the trial remains blinded.
• Pipeline milestones remain active: Moderna expects an interim analysis for the fully enrolled phase III intismeran melanoma study in the second half of 2026 and data from its registrational propionic acidemia study in the fourth quarter, while expanding oncology programs into Lynch syndrome and solid tumors.

Moderna Stock Performance

NASDAQ:MRNA traded down $3.10 during mid-day trading on Friday, reaching $54.82. 7,739,845 shares of the stock were exchanged, compared to its average volume of 8,840,786. The stock has a market capitalization of $21.75 billion, a P/E ratio of -6.73 and a beta of 0.94. Moderna has a 1 year low of $22.28 and a 1 year high of $85.60. The company has a 50 day simple moving average of $59.21 and a 200-day simple moving average of $52.50. The company has a quick ratio of 2.35, a current ratio of 2.41 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling at Moderna

In other news, President Stephen Hoge sold 53,336 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $51.37, for a total transaction of $2,739,870.32. Following the transaction, the president directly owned 1,483,848 shares in the company, valued at approximately $76,225,271.76. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Thyme Klinger sold 3,471 shares of Moderna stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $173,550.00. Following the completion of the transaction, the insider directly owned 67,468 shares in the company, valued at $3,373,400. The trade was a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 119,406 shares of company stock worth $5,928,762. 10.80% of the stock is owned by insiders.

Institutional Trading of Moderna

A number of large investors have recently bought and sold shares of the business. Empowered Funds LLC increased its position in shares of Moderna by 2.6% during the fourth quarter. Empowered Funds LLC now owns 13,732 shares of the company's stock worth $405,000 after buying an additional 353 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Moderna by 21.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,153 shares of the company's stock valued at $63,000 after buying an additional 387 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its position in Moderna by 6.2% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,334 shares of the company's stock valued at $241,000 after acquiring an additional 546 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Moderna by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 11,767 shares of the company's stock worth $357,000 after acquiring an additional 566 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Moderna by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 110,812 shares of the company's stock worth $2,862,000 after acquiring an additional 687 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company's stock.

Trending Headlines about Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna reported second-quarter EPS of -$1.97, better than the roughly -$2.03 consensus and an improvement from -$2.13 a year earlier. Revenue was approximately $145 million, while management reiterated its plan for up to 10% revenue growth in 2026. Moderna Reports Q2 Loss, Tops Revenue Estimates
• Positive Sentiment: The company improved its 2026 operating-expense outlook by about $200 million and now expects year-end cash of $4.7 billion to $5.2 billion, supporting its effort to reduce cash burn. Moderna also faces a potentially important catalyst on August 5, when regulators are scheduled to decide on its seasonal flu vaccine candidate, mFLUSIVA. Moderna Reports Second Quarter 2026 Financial Results
• Neutral Sentiment: Trading activity showed elevated interest in Moderna call options, with 82,913 contracts acquired versus a typical daily volume of 48,590. This may indicate speculative bullish positioning, but options activity alone does not establish a sustained change in investor sentiment.
• Negative Sentiment: Moderna’s Phase 3 mRNA-1403 norovirus vaccine trial did not meet the statistical criteria for early success at its interim analysis. The company plans to add another participant cohort, extending the trial into a fourth season and delaying clarity on a potential commercial opportunity. Moderna Adds New Cohort to Phase III Vaccine Trial
• Negative Sentiment: Investors remain concerned about Moderna’s dependence on declining COVID-19 vaccine sales. Although the quarterly loss narrowed, the company still posted a GAAP net loss of about $782 million, and reports characterized revenue as weaker than Wall Street expected. The norovirus setback therefore outweighed the earnings and cost-control improvements. Moderna Misses Quarterly Revenue Estimates on COVID Vaccine Weakness

Analyst Upgrades and Downgrades

MRNA has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Moderna in a research note on Thursday, June 18th. Bank of America raised their price target on Moderna from $34.00 to $38.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 7th. Piper Sandler raised their price objective on shares of Moderna from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. UBS Group reissued a "neutral" rating on shares of Moderna in a research note on Tuesday, May 26th. Finally, Wolfe Research reiterated an "underperform" rating and set a $25.00 price target on shares of Moderna in a report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, Moderna presently has an average rating of "Reduce" and a consensus price target of $40.00.

Moderna Company Profile

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.

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