Moderna (NASDAQ:MRNA) Posts Quarterly Earnings Results, Beats Expectations By $0.68 EPS

Moderna (NASDAQ:MRNA) announced its quarterly earnings results on Friday. The company reported ($2.11) earnings per share for the quarter, beating the consensus estimate of ($2.79) by $0.68, FiscalAI reports. The company had revenue of $678.00 million during the quarter, compared to the consensus estimate of $611.14 million. Moderna had a negative net margin of 139.61% and a negative return on equity of 29.81%. The firm’s quarterly revenue was down 33.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.91) earnings per share.

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

• The FDA issued a refusal‑to‑file for Moderna’s seasonal flu candidate mRNA‑1010, delaying U.S. approval and forcing a Type A meeting to define next steps — this creates regulatory uncertainty that could postpone U.S. launches and affect related revenue timing.
• Moderna cut operating expenses by about $2.2 billion (≈30%) in 2025, finished the year with $8.1 billion in cash and investments, and expects to end 2026 with $5.5–$6.0 billion of cash while targeting $4.2 billion of cash costs, providing runway while advancing the pipeline.
• Commercial momentum is strong — mNEXSPIKE captured ~24% of the U.S. retail COVID market (34% in ages 65+), and management expects up to 10% revenue growth in 2026 driven by international launches, local manufacturing in the U.K./Australia, and multi‑year government agreements.
• Multiple pipeline catalysts are upcoming — INT (individualized cancer therapy) reported positive 5‑year phase‑2 melanoma data and has several fully enrolled late‑stage trials (melanoma, RCC, muscle‑invasive bladder), while norovirus and propionic acidemia registrational studies are fully enrolled with potential 2026 readouts.

Moderna Trading Up 5.3%

MRNA opened at $42.23 on Friday. The company’s 50 day moving average is $37.26 and its 200 day moving average is $29.87. The company has a market cap of $16.50 billion, a price-to-earnings ratio of -5.23 and a beta of 1.32. Moderna has a 12-month low of $22.28 and a 12-month high of $55.20.

Insiders Place Their Bets

In other Moderna news, Director Noubar Afeyan sold 23,853 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $29.48, for a total value of $703,186.44. Following the transaction, the director directly owned 3,924 shares in the company, valued at approximately $115,679.52. This trade represents a 85.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Moderna

A number of institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. bought a new stake in Moderna during the fourth quarter valued at about $95,209,000. Invesco Ltd. lifted its position in shares of Moderna by 15.7% during the 3rd quarter. Invesco Ltd. now owns 8,216,163 shares of the company’s stock valued at $212,223,000 after buying an additional 1,115,131 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Moderna by 123.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,788,951 shares of the company’s stock valued at $52,775,000 after buying an additional 987,312 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Moderna during the 2nd quarter valued at approximately $23,192,000. Finally, Bank of America Corp DE increased its holdings in Moderna by 84.3% in the 2nd quarter. Bank of America Corp DE now owns 1,779,309 shares of the company’s stock worth $49,091,000 after acquiring an additional 813,974 shares in the last quarter. 75.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MRNA has been the subject of several recent analyst reports. TD Cowen restated a “hold” rating on shares of Moderna in a research note on Thursday, January 29th. Morgan Stanley decreased their target price on Moderna from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. Citigroup restated a “neutral” rating on shares of Moderna in a research note on Monday, January 19th. Wolfe Research reiterated an “underperform” rating and issued a $17.00 price target on shares of Moderna in a research note on Thursday, November 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Moderna in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Moderna currently has a consensus rating of “Reduce” and an average price target of $28.77.

Key Stories Impacting Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Q4 results beat expectations: Moderna reported a narrower-than-expected loss (GAAP EPS -$2.11) and revenue above estimates, driven by stronger COVID-19 vaccine sales; management reiterated a ~10% revenue growth target for 2026, pushing near-term sentiment. Moderna beats fourth-quarter revenue estimates
• Positive Sentiment: Unusually large bullish options flow: Traders bought about 146,946 call contracts Friday (≈75% above typical call volume), signalling outsized short-term bullish positioning that can amplify upside moves if momentum continues.
• Neutral Sentiment: Technical picture is mixed but showing early bull signals: Several technical analysts point to support holding after a sharp YTD rally and highlight possible breakout targets above recent resistance — this supports momentum trading but also implies higher volatility. Moderna Price Forecast: Breakout Signals New Bull Trend
• Neutral Sentiment: Pipeline & operational updates: Norovirus Phase 3 is fully enrolled and other trials progressed; management also highlighted international manufacturing capacity — positive for long-term value but timeline-driven. Q4 press release / slide deck
• Negative Sentiment: Major regulatory setback: The U.S. FDA issued a refusal-to-file for Moderna’s new mRNA flu vaccine application, citing trial issues; Moderna has requested a Type A meeting, but the decision raises near-term uncertainty for one of its key pipeline catalysts and could pressure valuation. FDA refuses Moderna’s application for new mRNA flu vaccine
• Negative Sentiment: Volatility and mixed market reaction: Despite the beat, some outlets note the stock’s sharp pullback from the 52-week high and intraday swings after earnings — a sign investors are split between near-term optimism and longer-term execution/regulatory risks. Moderna Reports a Narrower-Than-Expected Loss. The Stock Falls After Earnings.

About Moderna

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.