Moderna Stock Hits 52-Week High as Bernstein Keeps $45 Target

Moderna Inc. (NASDAQ: MRNA) shares set a fresh 52-week high Friday before giving back the intraday advance, sharpening the contrast between growing validation of the company’s mRNA technology and Bernstein SocGen Group’s unchanged valuation stance.

The stock reached $198.40, establishing a new 52-week high, before falling to $193.09 as of 10:07:21 a.m. ET, according to Yahoo Finance. That left the shares down 0.89% from Thursday’s $194.82 close. Moderna opened Friday at $195.23.

Bernstein, meanwhile, reiterated its Market Perform rating and maintained a $45 price target. At the $193.09 market price, that target stood about 76.7% below the prevailing share price.

Bernstein Calls Intismeran a Major Platform Validation

Analyst Courtney Breen said takeaways from Bernstein’s third annual healthcare forum pointed to Intismeran as the clearest validation yet of Moderna’s broader mRNA therapeutics platform. The firm said the next major question is whether that validation can be extended successfully into additional indications and clinical settings.

That view follows the August Phase 3 readout for intismeran autogene, Moderna’s individualized mRNA-based neoantigen therapy being jointly developed with Merck.

Moderna and Merck said the Phase 3 INTerpath-001 study in patients with completely resected Stage IIB-IV melanoma met its primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival at a prespecified interim analysis. The companies described it as the first positive Phase 3 readout for an individualized neoantigen therapy and for an mRNA-based cancer therapy.

Moderna said Sept. 21 that Phase 3 INTerpath-001 data will be presented Oct. 24 at the ESMO Congress 2026 in a Presidential Symposium.

The clinical program is already testing whether the approach extends beyond that initial setting. Moderna said the INTerpath program comprises nine Phase 2 and Phase 3 trials spanning multiple tumor types and stages, including melanoma, non-small cell lung cancer, bladder cancer and renal cell carcinoma. The melanoma Phase 3 study is continuing to assess additional endpoints, including overall survival.

Moderna’s Ondo Tokenized Stock Also Trades Near the Equity Price

Moderna Tokenized Stock (Ondo), which trades under the ticker MRNAon, was priced at exactly $194.17 at 10:02 a.m. ET Friday, up 5.24% over the preceding 24 hours, according to CoinMarketCap. 

MRNAon is an Ondo tokenized version of Moderna shares, not Moderna common stock itself. Ondo describes its tokenized-stock products as onchain exposure to publicly traded securities and uses the “on” suffix to identify Ondo versions of underlying stock tickers.

The token’s 24-hour percentage change is measured over a rolling period and therefore is not directly comparable with Moderna common stock’s Friday move from the previous regular-session close.