Moderna Soared on Good News About Cancer Vaccine. Why the Stock Was Downgraded.

Moderna


stock jumped by double digits Tuesday on positive news about the company’s cancer vaccine, but Chardan Capital Markets believes the biotech company’s shares won’t go much higher.

Moderna


(ticker: MRNA) and


Merck


(MRK) said on Tuesday that using Moderna ‘s experimental cancer vaccine with


Merck


‘s Keytruda in melanoma patients reduced the risk of death in a Phase 2 trial. Modern’s stock jumped 20% to close at $197.54.