Moderna’s melanoma results boosted shares, Baillie Gifford says
The investment firm cited positive late-stage results for Moderna’s personalized melanoma treatment and said it trimmed its position after shares recovered.
Key takeaways
- Baillie Gifford said Moderna’s personalized melanoma treatment had positive late-stage results alongside Keytruda in August.
- The firm said it cut its Moderna position by 50% after the share-price recovery.
Baillie Gifford said Moderna’s personalized melanoma treatment delivered positive late-stage results alongside Keytruda in August, helping make the company its largest positive contributor over the past year. The firm said shares rose sharply on the news.
In its third-quarter investor letter, the investment manager said the results offered evidence that Moderna’s mRNA platform could extend beyond infectious diseases. It also said it reduced its position by 50% after the share-price recovery and reinvested the proceeds across its portfolio.
Moderna closed at $225 on Oct. 9, according to the article. As of 14:56 UTC on Oct. 12, shares traded at $222.40, down 1.16% since the previous close.
This article was produced with the help of AI technology. Source: Yahoo Finance
