Moderna reports 42 percent risk cut as Citi rates Moderna stock Sell

Moderna Inc. (ISIN US60770K1079) reported on October 24, 2026 that its personalized melanoma vaccine cut the risk of recurrence or death by 42 percent in a Phase 3 trial involving 1,137 patients. The result gives the oncology pipeline a measurable clinical milestone, while valuation concerns remain central to the stock story. According to Yahoo Finance on October 23, 2026, Citi maintained a Sell rating and a USD 80.00 price target.

Clinical result reaches Phase 3

According to Moderna on October 24, 2026, the INTerpath-001 study tested intismeran autogene with pembrolizumab against pembrolizumab alone in patients with completely resected stage IIB to IV melanoma. After a median follow-up of 24.6 months, the combination produced a hazard ratio of 0.58 for recurrence-free survival.

The same release said the treatment reduced the risk of distant metastasis or death by 38 percent. Grade 3 to 5 treatment-related adverse events occurred in 14.2 percent of patients receiving the combination, compared with 13.4 percent in the control group. Moderna also said it manufactured the individualized therapy for more than 99 percent of randomized patients.

What does the 42 percent result mean?

The trial result strengthens the case for Moderna's oncology strategy, but the commercial path still depends on manufacturing, regulation and broader tumor data. The study's individualized treatment process selected up to 34 patient-specific neoantigens, and Moderna said its wider INTerpath program includes nine Phase 2 and Phase 3 trials.

Three milestones since October 2025

On October 1, 2026, Nasdaq announced that Moderna would join the Nasdaq-100 beginning October 9, 2026. On October 13, 2026, Moderna announced that its third-quarter results would be released on November 6, 2026. On October 24, 2026, the company published the 42 percent recurrence-risk reduction from INTerpath-001.

Two dates for investors

Moderna's next reporting date is November 6, 2026, with the conference call scheduled for 8:00 a.m. ET, according to Newswire on October 13, 2026. The Nasdaq-100 inclusion began on October 9, 2026.

Stock valuation remains the counterweight

Citi's USD 80.00 target contrasts with the stock's elevated market valuation and reflects skepticism about how quickly individualized cancer treatment can become a large commercial business. The company reported second-quarter 2026 revenue of USD 145.00 million and a net loss of USD 782.00 million, while the next quarterly update will provide the freshest operating figures.

Moderna stock after the trial data

Moderna stock was trading at EUR 163.74 at Lang & Schwarz on October 26, 2026 at 12:05 p.m. CEST. The primary listing is Nasdaq, where the stock's U.S. quotation and analyst targets are expressed in USD. The further course of trading is shown by the continuously updated real-time quote of Moderna stock.

Market context: Market report Nasdaq Composite.

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