Moderna Stock’s Short Squeeze Fades: 3 Key Support Levels to Watch

Moderna's stock surged nearly 20% following its Science Day event where it revealed mRNA applications beyond vaccines for cancer and rare diseases. However, the rally was driven partly by a short squeeze with over 16.5% short interest. While the long-term mRNA platform expansion is promising, the stock has nearly doubled its consensus price target of $37. Analysts caution that Horizon 2 and 3 products won't generate revenue until after 2028, putting pressure on current vaccine revenue to fund the pipeline. Key support levels to watch are $60, $55, and $52.