Moderna Sinks 7% and BioNTech Falls 4% as Profit-Taking Hits mRNA Stocks Friday Alongside Broad Tech Slide

A wave of profit-taking swept through biotech and technology stocks on Friday August 28, with Moderna shedding roughly 7% as traders booked gains on a year-to-date surge that had reached as high as 392%. BioNTech fell 4% to $111.47 in sympathy, despite carrying no company-specific news of its own and posting a comparatively modest 22% gain for the year. The mRNA selloff comes against a backdrop of stretched valuations: Moderna's market capitalization of roughly $59 billion to $63 billion sits atop trailing-twelve-month revenue of about $2.2 billion, a ratio nearly nine times the S&P 500 average, while the company reported a Q2 2026 net loss of $782 million and continues to generate negative operating cash flow.

SentinelOne also declined Friday, the day after reporting earnings on August 27 and following a Deutsche Bank downgrade to Hold from Buy, even as the cybersecurity firm remained up roughly 48% for the year near its 52-week high. Alnylam Pharmaceuticals, Allstate, ServiceNow, and the AI-focused name SharonAI were also lower in the session. ServiceNow has now fallen approximately 17% in 2026 despite delivering 24% subscription revenue growth.

The simultaneous pressure across biotech and software names pointed to a broader risk-off tone to end the week rather than any single company catalyst.