Moderna falls 4.3% to $144.30 after Rothschild says overvalued

This pullback reflects a sharp divergence between clinical promise and valuation, as a single bearish note from Rothschild triggers profit-taking after a massive run. The move underscores how sentiment-driven the recent surge has been, with the stock's price now heavily dependent on continued optimism around the cancer vaccine pipeline. The key question is whether further clinical data or broader market risk appetite can sustain the elevated level, or if this marks the start of a recalibration to more fundamental metrics.