Moderna, Inc. shares surged 5.18% during intraday trading on Wednesday, propelled by a pair of positive developments: regulatory approval for its groundbreaking mRNA flu vaccine and stronger-than-expected second-quarter financial results.

The U.S. Food and Drug Administration granted approval to mFLUSIVA, Moderna's seasonal influenza vaccine for adults aged 50 and older. This milestone marks the company's fourth approved product in the U.S. and represents the first-ever mRNA vaccine to enter the competitive flu market. Moderna expects the vaccine to be available at select retail channels in the coming weeks for the 2026-2027 respiratory virus season, with additional regulatory reviews ongoing in Australia, Canada, and Europe.

On the earnings front, Moderna reported a second-quarter loss per share of $1.97, which was narrower than the FactSet consensus estimate of a $2.01 loss. Revenue of $145 million significantly exceeded the $102.9 million analyst forecast, and the company reiterated its target of 10% year-over-year revenue growth. In response to the upbeat results, multiple investment banks raised their price targets, with Goldman Sachs adjusting to $67 and Jefferies to $60, both maintaining Hold ratings.