Why Moderna Stock Plunged Today

Shares of Moderna (NASDAQ: MRNA) declined by 9% on Monday after Bank of America downgraded its stock. 

Analyst Geoff Meacham cut his rating on Moderna from neutral to underperform and reiterated his price forecast of $150 per share. Meacham's estimate is roughly 13% below Moderna's closing price on Friday and 5% below its current price of $157.48.

Moderna's stock fell hard on Monday. Image source: Getty Images.

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Source Fool.com