Why Moderna Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Moderna, Inc.'s shares are trading higher after the EMA Committee for Medicinal Products for Human Use recommended authorization of the company's updated COVID-19 vaccine, Spikevax, in the EU. The next step is for the European Commission to make an authorization decision for the use of the vaccine for autumn/winter 2023. The positive recommendation coincides with rising COVID cases in the US, which has also caused vaccine stocks to rise in recent weeks.
September 14, 2023 | 7:21 pm
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Moderna's stock is trading higher following the EMA's recommendation for authorization of its updated COVID-19 vaccine in the EU. This news, along with rising COVID cases in the US, has led to an increase in vaccine stocks.
The EMA's recommendation for authorization of Moderna's updated COVID-19 vaccine is a positive development for the company, potentially leading to increased sales and revenue. Additionally, the rising COVID cases in the US are causing an increase in demand for vaccines, which is beneficial for vaccine manufacturers like Moderna.
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