Moderna Gets Good News, but Another Biotech Stock Is Falling Again
Just as the Nasdaq Composite (NASDAQINDEX: ^IXIC) led markets lower in 2022, the index is working hard to lead a rebound early in 2023. After being the only one of the three major U.S. stock market indexes to finish higher on Tuesday, the Nasdaq once again looked good early Wednesday morning, with futures on the index rising nearly half a percent.
One winner leading the Nasdaq higher Wednesday morning was vaccine stock Moderna (NASDAQ: MRNA), which announced positive news that showed investors the company is more than just a one-trick pony. Meanwhile, though, shares of Bluebird Bio (NASDAQ: BLUE) moved sharply lower for the second day in a row, as investors reacted negatively to the latest corporate news from the small biotech.
Shares of Moderna rose 7% in premarket trading Wednesday morning. The well-known maker of the Spikevax COVID-19 vaccine released positive trial data on another vaccine candidate that could further broaden Moderna's overall portfolio and offer more proof that its mRNA-based technology can provide solutions across a wide range of different diseases.
Source Fool.com
