Moderna Stock Breaks New Ground at $198 Amid Promising Cancer Treatment Data

Moderna's stock price hit a new 52-week high of $198 on Friday, building on a strong move from Thursday when shares climbed nearly 7% after regulators accepted three research abstracts covering the company's experimental cancer treatment.

The rally follows the acceptance of these abstracts, which will be presented at the upcoming European Society for Medical Oncology Congress in Madrid. One of the abstracts covers late-stage trial results combining Moderna's intismeran with Merck's Keytruda in melanoma patients.

Despite the stock's recent gains, not everyone is convinced that the rally is justified. Bernstein SocGen Group remains skeptical, maintaining a Market Perform rating and $45 price target, which is significantly lower than the current share price.