Why Moderna Stock Is Trading Higher Today
Moderna Inc (NASDAQ: MRNA) is trading higher Monday morning amid renewed COVID-19 concerns.
The recent spread of the COVID-19 Delta variant is a major concern. Delta first appeared in India at the end of 2020. The highly contagious COVID-19 variant surfaced in the United States in March and is now the dominant strain.
It was announced that Moderna would be added to the S&P 500 Index last week. The stock surged 10% following the news.
Last Thursday, Jefferies analyst Michael Yee maintained Moderna with a Hold rating and raised the price target from $170 to $250.
Moderna is set to report its second-quarter financial results on Aug. 5.
Price Action: Moderna is making a new 52-week high in trading today.
At last check Monday, the stock was up 6.56% at $305.19.
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