Moderna shares fell 10% to $214.03 in morning trading as investors took profits after a steep rally tied to its personalized cancer vaccine. In August, Moderna said intismeran autogene, given with Keytruda, met its primary endpoint in a late-stage melanoma trial, sending the stock to its best single-day gain ever. Five-year follow-up from a Phase 2b study showed the combination cut the risk of recurrence or death by 49% versus Keytruda alone. Meanwhile, BioNTech fell 2%, Pfizer rose 0.3%, the iShares Biotechnology ETF slid 2% and the S&P 500 ETF (SPY) dipped 0.1%, pointing to selling concentrated in Moderna. Goldman Sachs raised its price target but kept a Neutral rating, with full melanoma data due at ESMO later this month.
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