Moderna Stock Surges After Coronavirus Vaccine Development

Wall Street is desperate for any semblance of a solution to the coronavirus

Deputy Editor
Feb 25, 2020 at 10:43 AM
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Moderna Inc. (NASDAQ:MRNA) shares are surging 11.21% to trade at $20.54 this morning, as the company delivers its experimental coronavirus vaccine to the United States for human testing. Given the fact that the infection appears to be leading the charge in the sharp stock market drop, the vaccine is a welcome response to the spreading threat.

Moderna stock has relied on its 200-day moving average as support in 2020. On a roller-coaster the last twelve months, MRNA has jumped following any recent vaccine developments, starting with the confirmation of the vaccine development announced late January. On Feb. 7, the shares jumped 16.9% to $23.24 in response to Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID) saying that human clinical trials could start by the end of April.

After the recent news, analysts have been bullish, with six of the seven considering “strong buy," and zero "sells" to be found. In the options pits, Moderna sports a 50-day call/put volume ratio of 10.94 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 96th percentile of its annual range, suggesting it is much more bullish than usual.

 

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