Why These 5 Stocks Are Moving on Wednesday

4. Moderna, Inc. (NASDAQ:MRNA) is down 5% after Genevant Sciences and Arbutus Biopharma filed a case in the US District Court for the District of Delaware seeking damages for infringement of various US Patents that are related to the manufacturing processes and the sale of mRNA-1273, Moderna, Inc.’s (NASDAQ:MRNA) COVID-19 vaccine. The biotech companies are not looking for an injunction on the production and distribution of the vaccine. Instead, they are looking for compensation in the form of damages by the biotech giant. As of Q4 2021, 43 hedge funds had a long position in Moderna, Inc. (NASDAQ:MRNA), down from 49 hedge funds in the previous quarter.