Moderna (MRNA) Stock Rises 13% After Investor Day Announcements

TLDR

• Moderna stock rose 13% to $67.50 on June 26, heading for its highest close since September 2024
• The company announced its first in vivo CAR-T program, mRNA-6007, targeting autoimmune diseases, with clinical development planned for 2027
• Jefferies analyst Andrew Tsai sees Phase III melanoma data in late 2026 as the key near-term catalyst; rates stock Hold with a $53 target
• Piper Sandler’s Edward Tenthoff raised his price target to $77, maintaining an Overweight rating
• CNBC’s Jim Cramer called Moderna “finally investable again” but advised waiting for a pullback before buying

Moderna stock jumped 13% to $67.50 on June 26, making it the best performer in the S&P 500 for the session and putting it on pace for its highest close since September 2024. The move came after the company’s investor day, where it laid out an ambitious pipeline roadmap stretching well beyond its Covid roots.

Moderna, Inc., MRNA

The headline announcement was Moderna’s first in vivo CAR-T program, mRNA-6007. The company plans to kick off clinical development in 2027, with an initial focus on B-cell-mediated autoimmune diseases, including systemic lupus erythematosus.

In vivo CAR-T works by engineering a patient’s T-cells to fight disease directly inside the body — no lab detour required. That makes it faster and cheaper than the traditional ex vivo approach, which involves harvesting cells, modifying them externally, and re-infusing them.

Moderna isn’t the only one chasing this space. Eli Lilly made its own move earlier this year, agreeing to acquire Orna Therapeutics to secure its in vivo CAR-T platform. Lilly itself gained 6% on June 26, boosted by a separate positive EU regulatory opinion on its oral cancer therapy, Jaypirca.

What Wall Street Is Saying

Jefferies analyst Andrew Tsai described the early-stage oncology programs as capable of “meaningfully diversifying the mRNA pipeline.” But he pointed to Phase III melanoma data expected in the second half of 2026 as the bigger near-term trigger for the stock. Tsai rates Moderna at Hold, raising his price target to $53 from $45.

Piper Sandler’s Edward Tenthoff was more bullish, lifting his target to $77 from $69 while keeping an Overweight rating. He cited the pipeline progress on display at investor day as the driver.

On July 1, CNBC’s Jim Cramer called Moderna “finally investable again,” pointing to its cancer pipeline and a clearer path to profitability. He noted the stock has surged nearly 150% in 2026, one of the top gains in the S&P 500 this year.

Pipeline Taking Shape

Moderna’s investor day presentation organized its pipeline into three “horizons.” The first covers late-stage and commercial assets. Jefferies’ Tsai believes the company could bring more than seven products to market across respiratory, oncology, and rare diseases within two years.

That would be a major leap from the current three-vaccine portfolio. The company launched its first commercial product — the Spikevax COVID-19 vaccine — in 2020.

Active cancer programs include mid and late-stage trials for melanoma, non-small cell lung cancer, renal cell carcinoma, and bladder cancer. A late-stage study combining Moderna’s Intismeran with Merck’s Keytruda as a secondary melanoma treatment is expected to read out later this year.

On the regulatory front, an FDA advisory committee recently recommended approval of Moderna’s experimental flu vaccine ahead of an August 5 decision date. The European Commission has already approved the company’s combination Covid and flu vaccine.

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