Why Moderna Shares Are Rising

Moderna Inc MRNA shares are trading higher by 7.2% at $163.54 Wednesday afternoon after Deutsche Bank upgraded the stock from Sell to Hold and announced a $175 price target.

Shares of vaccine companies were otherwise trading lower during Tuesday's session. Over the past 4 trading sessions, Moderna's stock has fallen approximately 12.6% from the $175 level to the $152 level. 

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Moderna is a commercial-stage biotech that was founded in 2010. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

Moderna has a 52-week high of $497.49 and a 52-week low of $117.34.