Moderna MRNA shares rallied 6.3% in the last trading session to close at $55.4. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.4% gain over the past four weeks.
Shares of the company rallied after the FDA issued briefing documents ahead of a key advisory committee meeting, easing investor concerns about the approval prospects of the company's influenza vaccine candidate, mFlusiva (mRNA-1010). In these documents, the agency staff did not identify any major deficiencies in Moderna's filing and acknowledged data supporting the vaccine.
This biotechnology company is expected to post quarterly loss of $2.01 per share in its upcoming report, which represents a year-over-year change of +5.6%. Revenues are expected to be $114.89 million, down 19.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Moderna, the consensus EPS estimate for the quarter has been revised 3.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MRNA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moderna is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, CRISPR Therapeutics AG CRSP, finished the last trading session 1.1% lower at $52.02. CRSP has returned 8.3% over the past month.
CRISPR Therapeutics' consensus EPS estimate for the upcoming report has changed -1.7% over the past month to -$1.13. Compared to the company's year-ago EPS, this represents a change of +12.4%. CRISPR Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).