Moderna rises on study suggesting COVID-19 shot enhances efficacy of cancer treatment

Moderna rose more than 5% on Monday after a new study showed that mRNA COVID-19 shots could enhance cancer immunotherapy.

The results were presented by researchers from MD Anderson Cancer Center at the European Society for Medical Oncology conference in Berlin on Sunday, Stat News and others reported. The study found that cancer patients who took the COVID-19 shot within 100 days of taking an immunotherapy drug lived longer.

Moderna was tapped by the first Trump administration alongside Pfizer to quickly develop an immunization for Covid in 2020. Moderna still makes nearly all of its revenue from the vaccine while Pfizer has a larger, more diversified portfolio. Moderna has other products in its pipeline, including a dual flu and COVID-19 vaccine and personalized cancer vaccines.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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