Why Moderna Stock Keeps Moving Higher

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Why Moderna Stock Keeps Moving Higher

Vladimir ZernovJuly 20, 2021, 8:52 AM·2 min readModerna Shares Test All-Time High LevelsModerna stock gained huge upside momentum after the stock was included into S&P 500 and continues to move higher. The stock, which has recently traded below the $240 level, is currently trying to settle above the $340 level, having gained more than 40% in just 5 trading sessions.The recent market worries about the spread of the Delta variant of coronavirus served as an additional bullish catalyst for Moderna shares. Countries rush to secure new doses of vaccines which means that Moderna has good chances to get solid revenue in the upcoming years.In a latest deal, Takeda Pharmaceutical agreed to supply 50 million does of Moderna’s vaccine to Japan. The extra doses could be supplied at the beginning of 2022. Similar deals may follow as more countries open up to the idea of booster doses, which is bullish for Moderna and other vaccine makers.What’s Next For Moderna Stock?Analyst estimates for Moderna’s earnings have not changed in recent days, and the stock is currently trading at almost 19 forward P/E