The 10 Worst-Performing Stocks on Monday

4. Moderna Inc. (NASDAQ:MRNA)

Pharmaceutical giant Moderna Inc. lost 7.28 percent of its value on Monday to end the day at $36.55 apiece as investors continued to sell off positions following Goldman Sachs’ downgraded outlook for the company.

Last week, Goldman Sachs downgraded Moderna’s stock rating to “neutral” from “buy,” saying that the negative revisions to product revenue guidance suggest that the biotechnology company has limited visibility into the sales trajectory of its respiratory vaccine business. Moderna earlier projected revenues for fiscal year 2025 to settle between $1.5 billion and $2.5 billion.

While recognizing that products in Moderna’s pipeline could contribute to sales in the medium term, including the individualized neoantigen therapy in partnership with Merck, as well as Phase 1/2 cystic fibrosis data in partnership with Vertex Pharmaceuticals, Goldman Sachs said high levels of operating expenses were an additional concern.