Shares of biotechnology company Moderna Inc. (NASDAQ:MRNA) plummeted 6.1% in intraday trading on Tuesday, following a series of negative developments that raised concerns about the company's vaccine business and future growth prospects.

One of the key factors contributing to Moderna's stock decline was a downgrade by Goldman Sachs, which lowered its rating on the company from "buy" to "neutral." The investment bank cited negative revisions to Moderna's product revenue guidance, suggesting limited visibility into the sales trajectory of its respiratory vaccine business. Additionally, Goldman expressed concerns about Moderna's high levels of operating expenses.

Adding to the pressure on Moderna's shares was the ongoing controversy surrounding the potential nomination of Robert F. Kennedy Jr. as the next U.S. Health and Human Services Secretary. Kennedy, known for his skepticism towards vaccines, cleared a key hurdle in the Senate Finance Committee, raising fears that his appointment could potentially undermine public confidence in vaccines and negatively impact vaccine makers like Moderna.