Moderna to Join the Nasdaq-100 Index this month
Nasdaq (Nasdaq: NDAQ) on Monday announced that US RNA therapeutics and vaccine specialist Moderna Therapeutics (Nasdaq: MRNA) will become a component of the Nasdaq-100 Index, prior to market open on Monday, July 20, 2020, as a result of which, along with a Jefferies analyst’s bullish report with a price target of $90 on the company, Moderna’s stock leapt as much as 19% to $74.45 yesterday.
The index includes the 100 largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. Moderna's stock has more than tripled year-to-date, up 250%, to lift the companies market cap to $26.56 billion, amid investor optimism over the companies
The bullish rating is based on Moderna's COVID-19 vaccine working and resulting in large government supply contracts, Jefferies equity analyst Michael Yee wrote in a client note.
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