Moderna News: What Has MRNA Stock Moving This Week?

Moderna (NASDAQ:MRNA) stock is in the news today as the company’s president counters recent statements made by Pfizer’s (NYSE:PFE) CEO.

red text reads "moderna" on a light blue background. there is a bottle of liquid vaccine next to a medical needle representing MRNA stock.

Source: diy13 / Shutterstock

Pfizer CEO Albert Bourla said on Sunday that a fourth booster shot is needed to combat Covid-19. According to him, this extra shot is necessary as immunity wanes and hospitalizations increase.

Those comments originally sent both MRNA and PFE stocks higher on Monday. That makes sense as both companies are making vaccines to treat the novel coronavirus and more shots make them more money.

However, Moderna president Stephen Hoge doesn’t agree with the Pfizer CEO’s statement. He said as much during an interview after markets closed on Tuesday. According to him, only older individuals and those with compromised immune systems will need a fourth booster shot.

Considering that Moderna’s big business is vaccines right now, it makes sense that the stock would slip after its president said not as many people will need an extra shot. Especially after it rallied higher on expectations for more shots the day prior.

Today’s news has Moderna stock seeing a good amount of trading. We’re just after noon and some 7 million shares of the company’s stock have changed hands. That’s closing in on the company’s daily average trading volume of 8.8 million shares.

MRNA stock is down 3.9% and PFE stock is down almost 1% as of Tuesday afternoon.

Investors seeking more of the latest stock market news will want to stick around!

InvestorPlace has all the latest stock coverage that traders need to know about for Tuesday! A few examples include what it means for the S&P 500 to have hit a death cross, why oils stocks are slipping today, as well as what’s going on with shares of Hycroft Mining (NASDAQ:HYMC) stock. You can find out all about these matters at the links below!

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2022/03/moderna-news-what-has-mrna-stock-moving-this-week/.

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