MRNA Soars After Successful COVID-19 Vaccine Study

The equity is up an impressive 486.4% year-over-year

Digital Content Manager
Jul 15, 2020 at 11:05 AM
facebook twitter linkedin


The shares of Moderna Inc (NASDAQ: MRNA) are up 10.4% at $82.83 this morning, earlier hitting a fresh record high of $88.37, after a small-scale study showed its potential COVID-19 vaccine produced high levels of virus-killing antibodies, bolstering hopes the shot could protect against the respiratory disease. No serious side effects were reported in the study, and the biotech firm said it expects to deliver about 500 million doses a year, or possibly up to 1 billion doses per year starting in 2021.

The successful study has lifted MRNA up on the charts. Though shares had recently pulled back and found overhead pressure at the $66 level, support from the 60-day moving average have pushed off any large setbacks. Longer term, the equity is performing well, and sports an impressive 486.4% lead year-over-year.

Analysts were majorly optimistic toward MRNA coming into today, with 11 of the 12 in coverage sporting a "buy" or better rating, and only one carrying a tepid "hold." Meanwhile, the consensus 12-month price target of $96.58 is a whopping 15.3% premium to current levels. Short sellers are building their positions too, however. Short interest is up 25.3% in the last two reporting periods, and the 28.64 million shares sold short make up 9.7% of MRNA's available float.

In the options pits, it looks as if calls are more than tripling puts. In the last 10 days, 68,754 calls were exchanged, as opposed to just 22,398 puts. On the other hand, MRNA's Schaeffer's put/call open interest ratio (SOIR) stands higher than 83% of readings from the past year, implying short-term options traders have been more put-biased than usual.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners