Moderna soars on cancer vaccine results; Cramer flags Target as profit-taking risk
NEW YORK, Aug 19. Moderna shares soared Wednesday after the company reported promising results for its cancer vaccine program, according to CNBC's Jim Cramer, who included both names on his midweek market watchlist. Target, he said, may be a victim of profit-taking.
Key takeaways
- Moderna shares soared Wednesday after the company reported promising results for its cancer vaccine program, according to CNBC's Jim Cramer.
- Cramer said Target may be a victim of profit-taking, framing the move as technical rather than driven by new fundamental news.
- Both Moderna and Target were named among Cramer's top 10 stocks to watch Wednesday.
- Cramer's Moderna summary did not include the trial phase, enrolled patient count, primary endpoint, or comparison arm.
- The readout's implications for Moderna's cash runway and the program's next development stage were not specified.
NEW YORK, Aug 19. Moderna shares soared Wednesday after the company reported promising results for its cancer vaccine program, according to CNBC's Jim Cramer, who included both names on his midweek market watchlist. Target, he said, may be a victim of profit-taking.
The Moderna rally follows a readout Cramer described as promising. No trial phase, enrolled patient count, primary endpoint, or comparison arm was included in his summary. Each of those details shapes whether a clinical result translates to a durable move: a headline efficacy signal can lift shares quickly, then give way once the full data set reaches investors. The readout's implications for Moderna's cash runway and the program's next development stage were not specified.
Target's appearance on the list carried a different tone. Profit-taking, the pattern in which investors sell a position after accumulated gains, can pressure a stock without any deterioration in underlying business performance. Cramer's framing suggested the move was technical rather than tied to new fundamental news from the company.
Both Moderna and Target were named among Cramer's top 10 stocks to watch in the stock market Wednesday.