US Stock Market Move | Moderna (MRNA.US) rises nearly 5%, phase 3 melanoma study results draw attention.

On Wednesday, Moderna (MRNA.US) extended its gains in early trading, rising nearly 5% to hit a new high since August 19, with gains of nearly 30% over the past two weeks. Since August 19, when its mRNA cancer vaccine Phase 3 clinical data served as a catalyst, the company's stock price has risen more than 200% cumulatively. The market is currently highly focused on the Phase 3 results of Moderna's adjuvant treatment study for melanoma. The relevant data will be presented in the latest abstract form at the European Society for Medical Oncology conference, with the core endpoint being recurrence-free survival. UBS Group AG maintained a "Neutral" rating on the stock with a price target of $150 ahead of the release of Moderna's key Phase 3 melanoma trial data. In UBS Group AG's view, the reason this data release is important is that Moderna's stock price has already risen significantly recently, and the market has already priced in a considerable portion of positive expectations in advance.