© Reuters. By christiana sciaudone
Investing.com – Modern (NASDAQ 🙂 fell 14% after AstraZeneca (NYSE 🙂 and the University of Oxford said their vaccine candidate looked promising.
The AstraZeneca-Oxford vaccine, AZD1222, is safe and produced an immune response in early-stage clinical trials in healthy volunteers, Reuters reported, citing data from The Lancet. No serious side effects were reported.
JPMorgan (NYSE 🙂 has downgraded Moderna, which is working on a separate candidate vaccine, today at a high valuation, to neutral for overweight, The Street reported. Analyst Cory Kasimov raised her one-year price target to $ 89 from $ 60.
Moderna has risen in recent months on vaccine news, quadrupling to more than $ 80 since March.
Moderna’s vaccine, mRNA-1273, raised antibodies in all people tested in an initial safety trial, Bloomberg reported last week, although there was a high rate of side effects, with three of 45 people facing severe reactions. Moderna should start a Phase 3 trial on July 27, The Street said.
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