We recently compiled a list of the 10 Stocks Lead Wednesday’s Charge, Mirror Broader Gains. In this article, we are going to take a look at where Moderna, Inc. (NASDAQ:MRNA) stands against the other stocks.
US shares stayed firmer on Wednesday, with all major indices finally eking out gains as President Donald Trump softened on trade restrictions for three large automakers, reviving hopes that the trade war may not be as bad as it seemed.
The Dow Jones grew 1.14 percent, the S&P 500 rose by 1.12 percent, while the tech-heavy Nasdaq jumped 1.46 percent.
On Wednesday, the White House granted three large automakers a one-month exemption from tariffs after a call with the president, sending their share prices higher during the session.
Ten firms also mirrored the broader optimism, posting strong gains during the day. In this article, we have listed the 10 names and detailed the reasons behind their performance.
To come up with Wednesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A scientist surrounded by vials and beakers in a modern laboratory, proudly displaying a vaccine.
Moderna, Inc. (NASDAQ:MRNA)
Moderna, Inc. (NASDAQ:MRNA) shares rose for a second day on Wednesday, adding 15.94 percent to finish at $35.21 apiece as investors gobbled up shares in the company following an announcement that it anticipates the release of a personalized cancer vaccine, which it was developing with Merck Co., by 2027.
Efficacy of the vaccine is currently at 50 percent, but the company was looking to surpass such target, although the actual efficacy rate will only be determined after further case accrual.
At present, the company is conducting a late-stage trial for a skin cancer vaccine, which, according to Moderna, Inc. (NASDAQ:MRNA) President Stephen Hogek, could rapidly realize revenues.
A phase three study for the vaccine had been enrolled on September 2024.
Last month, Moderna, Inc. (NASDAQ:MRNA) also surged following news that a new bat coronavirus carries the risk of animal-to-human transmission, fueling optimism of higher vaccine sales.
Overall MRNA ranks 3rd on our list of Wednesday’s top gainers. While we acknowledge the potential of MRNA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MRNA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
