Moderna Stock Climbs on FDA Emergency Use News

Earlier this month, the company requested full FDA approval for the vaccine in teens

Deputy Editor
Jun 10, 2021 at 10:05 AM
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Moderna Inc (NASDAQ:MRNA) is back in the spotlight today, after the biotech concern asked the U.S. Food and Drug Administration (FDA) to approve the emergency use of its Covid-19 vaccine mRNA in adolescents ages 12 to 17. On May 25, Moderna said its vaccine was 100% effective in a study of adolescents in that age range -- which included more than 3,700 participants -- and saw no new Covid-19 cases observed after two doses of the vaccine. MRNA is responding well to the news, last seen 1.9% higher to trade at $221.48.

The company made headlines earlier this month after applying for full FDA approval for the vaccine, and the security went on to notch a new record high of $227.71 by June 7. Carving out a channel of higher highs all year, the shares' 10-day moving average has moved in to guide the shares higher in recent months. Now up an impressive 108.6% year-to-date, MRNA is on track for its fourth straight weekly win.

Moderna stock is sporting attractively priced premiums at the moment, too. The stock's Schaeffer's Volatility Index (SVI) of 63% stands higher than just 10% of all other readings from the past year. In simpler terms, option players are pricing in low volatility expectations right now.

What’s more, its Schaeffer's Volatility Scorecard (SVS) sits at a relatively high 81 out of a possible 100, indicating that the stock has managed to exceed these volatility expectations over the last 12 months.

 

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