Moderna, Inc. shares surged 5.20% during intraday trading on Monday, rebounding from a sharp decline last week as investors latched onto a raised analyst target and growing optimism around an upcoming FDA decision for its seasonal flu vaccine.

The move comes after Goldman Sachs lifted its price target on Moderna to $67 from $49, maintaining a Neutral rating but offering significant valuation support. Market sentiment also got a boost from expectations that the FDA will approve mRNA-1010, the company's seasonal influenza vaccine candidate, by its August 5 decision deadline. The vaccine previously received a unanimous 9-0 favorable vote from the FDA's advisory committee, fueling confidence in a positive outcome.

The rally also reflects a recovery bounce following a 5.07% drop on July 24, which was driven by cautious institutional positioning ahead of the company's second-quarter earnings report. With other firms like Jefferies also raising targets, the near-term catalysts appear to be outweighing ongoing cost concerns and uncertainty around new product commercialization timelines.