Key Highlights
- Shares of Moderna climbed 13% to reach $67.50 on June 26, tracking toward the highest closing price since September 2024
- The biotech firm unveiled mRNA-6007, its inaugural in vivo CAR-T therapy targeting autoimmune conditions, with human trials scheduled for 2027
- Analyst Andrew Tsai from Jefferies identifies Phase III melanoma results due late 2026 as the critical upcoming milestone; maintains Hold rating with $53 price objective
- Edward Tenthoff at Piper Sandler increased his price objective to $77 while keeping an Overweight stance
- Jim Cramer on CNBC labeled Moderna “finally investable again” while recommending investors wait for a price dip before entering
Shares of Moderna surged 13% to $67.50 during trading on June 26, claiming the top spot among S&P 500 performers that day and positioning the stock for its strongest close since September 2024. The rally followed the company’s investor day presentation, which outlined an expanded development pipeline that extends far beyond its coronavirus vaccine origins.
The centerpiece reveal was mRNA-6007, Moderna’s inaugural in vivo CAR-T therapy program. The biotech intends to initiate human trials by 2027, starting with B-cell-driven autoimmune conditions such as systemic lupus erythematosus.
The in vivo CAR-T approach modifies a patient’s T-cells to combat disease directly within the body — eliminating the need for laboratory processing. This method offers advantages in speed and cost compared to conventional ex vivo techniques, which require extracting cells, engineering them outside the body, and reinfusing them into the patient.
Moderna faces competition in this emerging field. Eli Lilly entered the space through its acquisition agreement with Orna Therapeutics earlier this year to gain access to in vivo CAR-T technology. Lilly’s stock also rose 6% on June 26, helped by favorable European regulatory feedback on Jaypirca, its oral cancer treatment.
Analyst Perspectives
Andrew Tsai from Jefferies characterized the early-stage cancer programs as having potential to “meaningfully diversifying the mRNA pipeline.” However, he emphasized that Phase III melanoma trial results anticipated in the latter half of 2026 represent the more significant near-term catalyst for share performance. Tsai maintains a Hold rating on Moderna while increasing his price objective to $53 from $45.
Edward Tenthoff at Piper Sandler expressed greater optimism, boosting his target price to $77 from $69 and maintaining an Overweight recommendation. He highlighted the pipeline advancement showcased during investor day as justification for the upgrade.
During his July 1 broadcast, CNBC’s Jim Cramer characterized Moderna as “finally investable again,” emphasizing its oncology pipeline development and improved path toward sustained profitability. He observed that the stock has climbed approximately 150% during 2026, ranking among the strongest performers in the S&P 500 this year.
Despite this optimism, Cramer counseled restraint. “I recommend waiting for a pullback before you buy,” he advised viewers on Mad Money.
Development Pipeline Overview
Moderna’s investor day materials segmented its development pipeline into three distinct “horizons.” The initial horizon encompasses advanced-stage clinical programs and marketed products. According to Jefferies’ Tsai, the company could potentially commercialize over seven products spanning respiratory diseases, oncology, and rare conditions within the next two years.
This would represent substantial growth beyond its current three-vaccine commercial lineup. The company introduced its inaugural marketed product — the Spikevax COVID-19 vaccine — in 2020.
Current oncology initiatives include mid-to-late stage clinical studies for melanoma, non-small cell lung cancer, renal cell carcinoma, and bladder cancer. A pivotal trial evaluating Moderna’s Intismeran combined with Merck’s Keytruda for adjuvant melanoma therapy is projected to deliver results before year-end.
Regarding regulatory progress, an FDA advisory panel recently endorsed Moderna’s investigational influenza vaccine prior to the August 5 regulatory decision deadline. The European Commission has previously granted approval for the company’s combination COVID-19 and influenza vaccine.
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