Why Is Moderna $MRNA Stock Down -5.25% Today? • Moderna $MRNA shares fell roughly 5.25% on Wednesday, retreating from a prior close of $203.46. • The primary catalyst was a Citi downgrade from Neutral to Sell, with the firm calling the stock's valuation "unjustifiable" after a massive 2026 rally. • Citi raised its price target to $80 from $60, but that still implies roughly 60% downside from Tuesday's close. • Profit-taking after a 222% surge since positive Phase 3 melanoma data in August amplified the selling pressure. • A Delaware court ruling allowing a patent-infringement lawsuit to proceed added a secondary legal overhang. • Traders are now watching detailed INTerpath-001 data expected at the ESMO congress on October 24. $NVAX $BNTX $CRSP $REGN $IBRX $VKTX $RXRX