Moderna Inc. (NASDAQ:MRNA) released the fourth quarter and annual results. Results show better than expected performance. Revenues rose to $7.2 billion and the EPS to $11.29. Moderna also gave revenue guidance for 2022 at $19, citing the growth in demand for COVID vaccines.
MRNA came to the market’s attention with successes in vaccines against coronavirus. Recently, the company acquired full FDA approvals for its vaccine. The approvals enhance confidence in MRNA technology, paving the way for MRNA research developments in diseases and conditions other than coronavirus.
The share price has been plummeting since the beginning of the year, as MRNA stared at a market correction. Good fundamentals seem not to impact the developing bear market, given that the share price only rose slightly after the announcement. The market’s volatility is made worse by the invasion of Ukraine by Russia. Nasdaq-100 traded down 2.60% on Thursday following the unfolding crisis.
MRNA shares continue bleeding
Source – TradingView
MRNA continued bleeding as short-term moving averages sank below MA 50. The 50-day moving average stands at $255 while the 20 day is at $239.23. Ten-day moving average closed at $187.13. MRNA shares are on an accelerated decline. Considering the recent declines that may be made worse by conditions of war, investors should be cautious.
Summary
MRNA announced Q4 and annual results maintaining a market-wide trend of beating corporate earnings expectations. The results, however, may not stop the bleeding on the share price. Investors should keenly watch the developing war in Ukraine.
The post Moderna beat expectations in Q4 results. Will this stop the bleeding? appeared first on Invezz.
