Moderna (NASDAQ:MRNA) stock is on the rise Friday as the company prepares to join the S&P 500.
MRNA stock is set to join the S&P 500 before trading starts on Wednesday. The reason for Moderna joining has to do with a deal between Alexion Pharmaceuticals (NASDAQ:ALXN) and AstraZeneca (NASDAQ:AZN). This will have AstraZeneca acquiring ALXN, which is the cause for it being removed from the S&P 500.
News of MRNA joining the S&P 500 has it seeing heavy trading early today. As of this writing, more than 13 million shares of the stock have changed hands. That quickly surpassed the company’s daily average trading volume of 9.4 million shares.
Keeping all of this in mind, let’s dig into what potential investors need to know about Moderna.
- Moderna is a pharmaceutical company developing treatments using messenger RNA (mRNA).
- The company believes that it can use mRNA to treat a wealth of conditions that affect humans.
- A recent example of that includes the company’s vaccine for the novel coronavirus.
- Moderna was founded in 2010 and is based out of Cambridge, Mass.
- It started trading shares of MRNA stock publicly on the Nasdaq Exchange in late 2018.
- The company currently employees about 1,500 people.
- Stéphane Bancel serves as the CEO of Moderna .
- Bancel has been acting as the company’s CEO since 2011, which is also when he joined its Board of Directors.
- Paul Burton is the CMO of Moderna.
- Burton joined Moderna after spending 16 years in the employ of Johnson & Johnson (NYSE:JNJ).
MRNA stock was up 10.1% as of Friday morning and is up 155.8% since the start of the year.
Let’s take a look at what else has been happening in the healthcare space lately.
Several companies in the sector have been in the news lately and InvestorPlace has all the details you need to know about them. That includes a drug ban hitting Biogen (NASDAQ:BIIB), Allied Healthcare Products (NASDAQ:AHPI) gaining interest from retail traders, as well as what’s happening with Reddit favorite Clover Health (NASDAQ:CLOV). Check out all of that at the links below!
More Recent Healthcare Stocks News
- BIIB Stock: The Drug Ban News That Has Biogen Stumbling Today
- AHPI Stock: 5 Things to Know About Red-Hot Allied Healthcare as It Rockets Higher
- CLOV Stock: Why One Analyst Is Now Souring on Clover Health
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.