These 10 Firms Were Last Week’s Worst Performers

2. Moderna Inc. (NASDAQ:MRNA)

Shares of Moderna Inc. (NASDAQ:MRNA) nosedived by 19 percent week-on-week to finish Friday’s trading at $34.06 versus the $42.25 close a week prior after projecting a steep decline in its 2025 revenues to between $1.5 billion to $2.5 billion as compared with $3.1 billion in 2024 and $19 billion at the peak of the Covid-19 pandemic.

The lower earnings projection came on the heels of lower vaccine demand for COVID-19 vaccines and slow adoption of its respiratory syncytial virus (RSV) shot, forcing Moderna to cut costs.

Moderna (NASDAQ:MRNA) CEO Stéphane Bancel said that the vaccine maker aims to reduce 2025 cash costs by $1 billion with a plan for an additional $500 million in 2026. It expects to end 2025 with cash and investments of about $6 billion.

The company is also betting on new products to help accelerate growth. It has filed an application with the US FDA for the approval of its combination vaccine to protect against COVID-19 and influenza.