Why Moderna Stock Is Trading Higher Today

Moderna Inc MRNA is trading higher Monday morning amid renewed COVID-19 concerns. 

The recent spread of the COVID-19 Delta variant is a major concern. Delta first appeared in India at the end of 2020. The highly contagious COVID-19 variant surfaced in the United States in March and is now the dominant strain. 

It was announced that Moderna would be added to the S&P 500 Index last week. The stock surged 10% following the news. 

Last Thursday, Jefferies analyst Michael Yee maintained Moderna with a Hold rating and raised the price target from $170 to $250.

Moderna is set to report its second-quarter financial results on Aug. 5.

Price Action: Moderna is making a new 52-week high in trading today. 

At last check Monday, the stock was up 6.56% at $305.19.