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Moderna Tumbles 10% as Profit Taking Hits Cancer Vaccine Rally; BioNTech Eases, Pfizer Stays Put - 24/7 Wall St.
Moderna fell 10% to $214.03 in morning trading as profit taking hit a steep run tied to its personalized cancer vaccine, while BioNTech slipped 2% to $88.59 and Pfizer edged up 0.3% to $29.54; the iShares Biotechnology ETF fell 2% against a roughly flat S&P 500. The pullback follows August news that intismeran autogene plus Keytruda met its primary endpoint in a late-stage melanoma trial, which had driven Moderna's best single-day gain. With a critical trial readout due later this month, the move underscores how concentrated the vaccine thesis has become in near-term catalysts.