Moderna Inc. (MRNA) went up by a further 9.40% in the premarket, at $369.60, against its previous close at $329.63 on November 26. In the previous trading session, the stock gained 20.57% at a volume of 35.9 million. Which was 282% of the stock’s 65-day average volume of 12.75 million. Intraday trading, MRNA moved between $313.00 and $350.15, while in the 52-week range it’s varied between $102.66 and $497.49. In the past five days, the stock has gained 16.60%, while it lost 2.24% in the past month. Further, the stock added a value of 215.53% year to date. The company’s 405.45 million outstanding shares have a current market capital of $133.65 billion with a beta value of 0.25. The stock seems to be making good from the new Omicron variant as the company prepares to beat it, as per the recent announcement.
Founded in 2010, Moderna Inc. (MRNA) is a biotechnology company that develops therapeutics and vaccines for the treatment of various diseases.
MRNA’s Strategy for Omicron
On November 26, the company announced updates to its strategy for tackling the new SARS-CoV-2 variant called Omicron. The Omicron variant also known as B.1.1.529 has mutations of both its previous variants. The mutations increase both transmissibility and immune escape, making it more deadly and dangerous. Further to add to its precarious nature, the strain seems to present little to no symptoms initially, making it difficult to diagnose in time. It is yet to be found if the new variant is susceptible to any of the existing vaccines. Boosting the current immunity seems to be the only option at the time.
The Moderna Covid-19 vaccine (mRNA-1273) is an authorized booster for most age groups. Moderna Inc. (MRNA) accelerated its testing for vaccine dose to neutralize the Omicron variant. While the company has been working on its strategy for upcoming and possible new variants since early 2021. According to which, if the current dose fails to keep safe from the new variant, three more levels of response would be induced.
The company is testing three existing vaccines booster candidates along with the new variant-specific vaccine: mRNA-1273.529.
MRNA stock’s Q3 Highlights
Moderna Inc. (MRNA) announced its third-quarter financial results on November 4, 2021. As per the third quarter, the total revenue was $5.0 billion, against $157 million in Q3 of 2020.
Moreover, the net income for Q3 2021, was $3.3 million, against a net loss of $233 million in Q3 of 2020. Consequently, the net income per diluted share was $7.70 in the third quarter of 2021.
