Moderna stock soars as cancer pipeline and CAR-T push ignite optimism

Moderna Inc. MRNA shares surged nearly 10% on Friday, extending a powerful rally that has lifted the stock about 40% over the past month and significantly outperformed the broader market.

The gains followed the company's Science Day presentation and investor event, where Moderna outlined an ambitious strategy to expand beyond its COVID-19 vaccine business and build a diversified portfolio spanning oncology, autoimmune diseases, and next-generation mRNA therapies.

In vivo CAR-T program drives investor enthusiasm

Among the announcements that attracted the most attention was Moderna's first in vivo CAR-T program, mRNA-6007.

The company plans to begin clinical development of the candidate in 2027, initially targeting B-cell-mediated autoimmune diseases, including systemic lupus erythematosus, a chronic condition in which the immune system attacks healthy tissues and organs.

In vivo CAR-T therapies are designed to genetically engineer patients' T-cells directly inside the body.

The approach is viewed as more efficient and potentially less costly than traditional ex vivo CAR-T therapies, which require cells to be harvested, modified in laboratories, and reinfused into patients.

The technology has drawn growing interest across the pharmaceutical industry.

Eli Lilly has also moved into the field, acquiring Orna Therapeutics earlier this year and gaining access to its in vivo CAR-T platform.

Moderna's investor presentation also highlighted several additional oncology and immunology programs, including T-cell engagers targeting multiple myeloma and ovarian cancer.

Pipeline expansion extends beyond COVID vaccines

The company used its Science Day presentation to provide investors with a broader look at its long-term development strategy.

Moderna outlined a pipeline divided into three distinct "horizons," with the first focused on existing commercial products and late-stage development programs.

Jefferies analyst Andrew Tsai estimates that Moderna could market more than seven products across respiratory, oncology, and rare disease indications within the next two years.

The projection represents a significant expansion from the company's current portfolio of three vaccines and underscores how rapidly Moderna's business model has evolved since launching its first commercial product, the Spikevax COVID-19 vaccine, in 2020.

The company also highlighted its first cancer prevention program, mRNA-4194, which targets patients with Lynch syndrome.

In addition, Moderna discussed progress on mRNA-1195, an Epstein-Barr virus therapeutic vaccine being developed for multiple sclerosis, with early data expected later in 2026.

Investors also welcomed progress in the company's influenza franchise.

Moderna's flu vaccine candidate, mRNA-1010, recently received a unanimous 9-0 vote from an FDA advisory committee for adults aged 50 and older ahead of a regulatory decision scheduled for Aug. 5, 2026.

Analysts remain optimistic despite differing views

Wall Street analysts responded positively to the company's latest updates.

Piper Sandler raised its price target on Moderna shares to $77 from $69 while maintaining an Overweight rating, citing progress showcased during Science Day.

Jefferies analyst Andrew Tsai also expressed optimism about the company's early-stage oncology programs and emerging treatment modalities, noting they "can meaningfully diversify the mRNA pipeline."

However, Tsai views upcoming Phase III melanoma data as an even larger near-term catalyst, calling it "a major event" for the stock. He maintained a Hold rating while raising his price target to $53 from $45.