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Cancer Vaccine Trial Success Boosts Moderna, Merck Stocks
22 Aug
Summary
- Moderna stock surged 129% after positive cancer vaccine trial results.
- Merck's shares gained 12% on promising early-stage personalized cancer vaccine data.
- Estée Lauder's stock rose over 18% following strong earnings and an improved outlook.
The S&P 500 index concluded a recent three-week winning streak, registering a 1.4% loss for the week, primarily influenced by an increase in Treasury yields that triggered a sell-off on Thursday.
Despite the broader market's dip, several individual stocks entered overbought territory due to significant gains. Moderna and Merck were notable performers, with their shares surging following positive initial results from an experimental personalized cancer vaccine trial. This combination therapy met key goals in patients with higher-risk melanoma that had been surgically treated.
Moderna experienced the largest weekly gain among screened stocks, soaring 129% with a 70 RSI reading. Merck saw a 12% increase, holding a 77 RSI and a buy consensus. Estée Lauder also demonstrated strength, with its stock rising over 18% after surpassing earnings expectations and raising its fiscal year 2027 adjusted operating margin outlook. The company anticipates adjusted earnings between $3.10 to $3.35 per share for fiscal 2027.
Other stocks showing strong performance included Agilent Technologies, which posted the highest RSI at 79, and Thermo Fisher Scientific, with an RSI of 71. Both companies currently carry buy consensus ratings from Wall Street analysts, indicating positive sentiment from the financial sector.
