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Moderna stock fell on Thursday after vaccine maker Covid reported adjusted income of $ 6.46 per share on $ 4.35 billion in second-quarter sales.
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On average, analysts polled by FactSet expected Modern (MRNA) earnings of $ 5.96 per share and revenues of $ 4.21 billion.
In the prior year period, Moderna reported a loss of 31 cents per share and revenue of $ 66 million.
For the year, Moderna said it now expects product sales of $ 20 billion. Analysts called for adjusted earnings of $ 26.17 per share and $ 18.77 billion in sales.
Moderna also agreed to a billion dollar share buyback.
In pre-market trading in today’s stock market, Moderna stock has fallen 5%. The shares are trading at an all time high after, earlier this week, Moderna secured an accelerated designation for its respiratory syncytial virus vaccine. Like Moderna’s Covid vaccine, the RSV vaccine uses messenger RNA technology.
More soon.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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