• Moderna is trading 5.8% down at $222.80, with today's decline influenced by Citi's September 30, 2026, downgrade to Sell and its $80 price target, reflecting valuation concerns around potential cancer-vaccine sales.
  • Citi's analysis indicated optimism around cancer-vaccine sales was already priced in.
  • While Moderna's Bundibugyo Ebola vaccine Phase 1 trial began in August 2026, and a related trial in Uganda was reported on October 15, 2026, reporting does not link it to today's decline.