With shares still sagging, Moderna gets little bump from initial analyst coverage

Despite optimistic price targets in newly initiated sell-side analyst coverage, Moderna Inc. (NASDAQ:MRNA) shares failed to receive a bump on Wednesday, adding $0.06 to $15.33 but continuing to trade well below their IPO price.

According to FactSet, eight analysts -- all from banks that underwrote Moderna's Dec. 6 IPO -- issued buy-equivalent ratings as they began coverage of the biotech on Wednesday, following the expiration of a quiet period. Their price targets ranged from $20 to $29, and averaged $24.38...