(Bloomberg) Vaccine maker Moderna Inc. jumped about 11% on Friday to reach a new record high of $288.88 after reports of inclusion on S&P 500 surfaced.
S&P Dow Jones announced, on Thursday, plans to add Moderna to the benchmark index next week.
The drugmaker will replace Alexion Pharmaceuticals Inc. in the S&P 500 index before the July 21 trading opening.
Moderna, which is one of the first few companies to get approval of its Covid vaccine, has seen its share rise more than threefold in the past 12 months.
Currently, Moderna is the best performing stock among its Nasdaq 100 peers, with a jump of over 170% this year.
Moderna is viewed as the “Tesla of Biotech” with analysts projecting a boosted revenue guidance for 2021 when the company posts its second quarter results next month.
Markets for the Covid booster shots, Moderna’s next product already in late-stage trials, and flu data by year-end are investors’ talking points about the biotech firm.
Moderna’s market cap rose past $100 billion this week, and will be S&P’s top stock when added to the index.
MRNA: NASDAQ is up +9.09%
