Why Moderna Shares Are Rising

Moderna Inc MRNA shares are trading higher by 3.8% at $457.32 amid strength in vaccine names. FDA authorization of a booster shot from competitors BioNTech and Pfizer has possibly lifted sector sentiment as well.

Peer vaccine producer, Novavax NVAX, is also trading higher after the company, along with Serum Institute, announced submission to the World Health Organization for emergency use listing for Novavax's COVID-19 vaccine candidate.

Moderna is 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 had 24 mRNA development programs as of early 2021, with 13 of these in clinical trials. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease and rare genetic diseases.

Moderna has a 52-week high of $497.49 and a 52-week low of $63.64.