Moderna Inc ( MRNA ) shares are trading lower by 2.7% to $102.25 during Wednesday’s session in possible sympathy with BioNTech, which reported worse than expected fourth-quarter earnings.

In the fourth-quarter of fiscal year 2023 BioNTech SE reported lower earnings and sales than the previous year. The GAAP EPS was €1.90 (equivalent to $2.04), missing the consensus of $2.64, with sales at €1.479 billion (equivalent to $1.59 billion), missing the consensus of $1.99 billion.

This decline was partly due to inventory write-downs by Pfizer, reducing BioNTech’s revenues by €291.3 million for the quarter and €906.7 million for the fiscal year 2023…

Why This Matters To MRNA Investors

Investors often compare companies within the same industry to gauge relative performance. Moderna ( MRNA ) and BioNTech are direct competitors in the mRNA space, so when BioNTech misses earnings expectations, investors may worry that Moderna ( MRNA ) could face similar difficulties.

This could lead them to reevaluate Moderna’s growth prospects and potentially revise their revenue and earnings forecasts downward for the company.

See Also: Why Is BioNTech Stock Trading Lower On Wednesday?

Is MRNA A Good Stock To Buy?

Wall Street analysts view Moderna ( MRNA ) on the whole as an Outperform, given the history of coverage over the past three months. Yifeng Liu from HSBC in Moderna ( MRNA ) is the most optimistic, expecting a 14.67% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Moderna ( MRNA ) rose 11.37%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 44.71% over the past year.

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MRNA has a 52-week high of $163.24 and a 52-week low of $62.55.