Insights

Why Moderna Was a Stock Market Star on Friday

What happened

Moderna (NASDAQ: MRNA), considered by many to be the top coronavirus stock, was tops with investors on the last trading day of the week. The company’s shares enjoyed a nearly 4% lift, far outpacing the gain of the S&P 500 index. A supply deal with the U.S. government was the catalyst for the pop.

So what

Friday morning, Moderna announced that the U.S. government has secured 66 million doses of a booster version of its Spikevax vaccine that includes the mRNA for the omicron BA.4/5 strain. The government is on the hook for up to $1.74 billion for that batch, and it holds options to buy as many as another 234 million boosters from the biotech.

This bivalent vaccine is one of two currently being advanced by Moderna. In addition to the version being shipped to the U.S. government, the company also has one containing the BA.1 omicron strain.

Spikevax remains one of four vaccines fully approved or holding Emergency Use Authorization for use in the U.S.

Now what

Moderna’s latest news is almost indisputably a positive development for the company, which continues to be a leader in COVID-19 protection.

No less an entity than white-shoe investment bank Goldman Sachs agrees. Following Moderna’s disclosure of its latest government arrangement, Goldman analyst Salveen Richter reiterated her buy rating on the stock, at a price target of $290 per share.

Richter feels that the near-term future is bright for Moderna and its vaccine. She wrote in an analyst note that “given recent media reports that the Biden Administration plans to begin the booster campaign in September, we expect the volume of uptake and share dynamics to be relevant inputs into the overall booster outlook.”

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs. The Motley Fool recommends Moderna Inc. The Motley Fool has a disclosure policy.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info