Jim Cramer’s List of Stocks that Finished Dead Last

2. Moderna, Inc. (NASDAQ:MRNA)

Number of Hedge Fund Holders: 39

Moderna, Inc. (NASDAQ:MRNA) is a biotechnology company that specializes in the development of messenger RNA therapeutics and vaccines for a variety of diseases. Its portfolio includes vaccines for respiratory illnesses like COVID-19 and influenza, as well as those targeting latent infections such as HIV.

Additionally, the company is involved in creating cancer treatments, including personalized vaccines, and has therapeutic options for rare diseases and pulmonary conditions.

During his show, Cramer talked about the company and said that the stock was “down nearly 44% in the third quarter.” He went on to say:

“Moderna simply hasn’t been able to follow up with its game-changing COVID vaccine with anything big enough to move the needle.”

Recently, Moderna (NASDAQ:MRNA) announced plans to reduce its expenses by approximately $1.1 billion by 2027, a decision driven by the decline in demand for its COVID-19-related products.

To navigate this transition, the company will pause development on certain projects within its pipeline and discontinue others to better manage research and development costs. The target for R&D spending has been adjusted to a range of $3.6 billion to $3.8 billion in 2027, down from a previously forecasted $4.8 billion by the end of the current year.

Moderna (NASDAQ:MRNA) CEO Stephane Bancel highlighted that this strategic shift will involve scaling back on some studies and putting a hold on the latent product portfolio, which pertains to viruses that can remain dormant in the body for extended periods before potentially causing serious health issues later on.