On August 21, Moderna, Inc. declined 3.27% overnight, trading at $129.47/share, with turnover of $1.1743 million. The stock continues to retrace after its historic 177% single-day surge earlier this week.

The decline represents a continuation of investor profit-taking that began on August 20, when shares fell approximately 22-23% in their worst percentage drop in over two years. UBS reported that its clients net sold $44 million worth of Moderna stock on the day of the surge, indicating institutional investors locked in gains. Options flow on August 20 also showed a distinctly bearish structure, with large-scale bear call spreads and long-dated put purchases signaling expectations of further downside.

The initial surge was triggered by Moderna and Merck announcing positive Phase III results for their personalized mRNA cancer vaccine intismeran autogene in melanoma. While multiple investment banks raised price targets — BofA to $170, Piper Sandler to $167, Jefferies to $150 — the consensus average target of $56.58 prior to adjustments suggests the market is still recalibrating fair value for the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)