As per the latest reports, one of the vaccine makers has reported a surge in terms of its stock prices. The name of the particular company is Moderna Inc. and it has shared promising figures from its recent surge in stock prices.
The reports suggest that the surge it has experienced is a fresh record high figure in its entire history. The firm announced that it experienced a surge in terms of its stocks on Friday, July 16, 2021.
The report suggests that the surge in the stock prices for the company was observed as a result of hints of the firm entering the S&P 500 benchmark. According to sources, it has been revealed that the company will be entering the particular benchmark in the coming week.
The reports suggest that in the coming week, Alexion Pharmaceuticals will be replaced by Moderna. The company will be inducted into the S&P 500 index, which is one of the most closely tracked and prominent indexes in the market.
Moderna officials have confirmed that it will be opening the bell for its induction on the S&P 500 index on Wednesday, July 21, 2021. Alexion Pharmaceuticals was reportedly taken over by AstraZeneca, which is a UK-based company and the takeover deal was for $39 billion. AstraZeneca had reportedly taken over Alexion Pharmaceuticals back in December 2020.
According to the stocks report, Moderna had experienced a surge in terms of its stocks in the pre-market trading on Friday. In the pre-market trading on Friday, the stocks for the company had observed 7.8% growth. As a result, the opening bill price of the share price of Moderna was $280 per unit.
So far, this is an all-time high share price that has been demonstrated by Moderna. This would eventually help the company observe an overall gain of 168% for the year 2021. At the time of writing, the market valuation of Moderna is $112 billion.
The third quarter of the year 2021 is not the only achievement demonstrated by Moderna. The company had even reported that its earnings had exceeded the expectations that were set for the first quarter of 2021.
On May 6, 2021, Moderna reported that it had a share price reach $2.84 per share by the end of the first quarter of 2021. As for the revenues, it reported a rise of $1.9 billion in the revenue that was generated for the first quarter of 2021.
The drug manufacturing company has revealed that it has also observed a significant rise in the sales that it has executed in the full financial year of 2021. Keeping the sales surge in mind, the company has even boosted its forecast for the sales it is set to achieve for the particular year.