Moderna (MRNA) stock closed higher on Wednesday after the FDA reversed its earlier refusal-to-file decision on the company’s mRNA-1010 seasonal influenza vaccine. 

As the regulatory agency agreed to review MRNA’s revised application, its stock price rallied past its 20-day moving average (MA), signaling bullish momentum could sustain in the near term.

Despite today’s surge, Moderna stock remains down some 15% versus its year-to-date high.  

Moderna Stock Remains Unattractive for the Long Term

The FDA news is largely positive for MRNA stock as it positions the company’s influenza vaccine for the upcoming flu season. 

From a fundamental perspective, the global flu…