Shares of COVID-19 vaccine makers, including Moderna Inc (NASDAQ:MRNA), are trading lower amid continued volatility in the space as investors weigh booster shot progress. Pfizer CEO Albert Bourla recently predicted a return to 'normal life' within a year with a likely need for annual shots.
Shares of companies in growth sectors are also trading lower amid a rise in the 10-year treasury yield. The 10-year Treasury yield hit an intraday high of 1.517% Monday morning before dipping to around the 1.484% level. The move in the 10-year note comes after the Federal Reserve last week spoke on winding down its ongoing asset purchasing program.
Moderna is commercial-stage biotech that was founded in 2010. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
Moderna had 24 mRNA development programs as of early 2021, with 13 of these in clinical trials. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease and rare genetic diseases.
Moderna has a 52-week high of $497.49 and a 52-week low of $65.49.