On August 21, Moderna, Inc. rose 3.65% in pre-market trading, trading at $138.27/share, with turnover of $26.57 million. The stock is rebounding after declining approximately 23.5% in the prior regular session due to profit-taking following a historic 177% single-day surge.

On the news front, JPMorgan raised its target price on Moderna from $40 to $77, adding to a wave of analyst upgrades. Earlier, BofA Global Research upgraded the stock from Underperform to Neutral with a target of $170, Jefferies raised its target to $150, Piper Sandler set a $167 target maintaining Overweight, and Goldman Sachs adjusted to $120. The underlying catalyst remains Moderna and Merck's announcement that their personalized mRNA cancer vaccine intismeran autogene combined with Keytruda achieved its primary endpoint of recurrence-free survival in the Phase III INTerpath-001 trial for high-risk melanoma patients, marking the first successful Phase III trial for mRNA technology in oncology.

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