Shares of vaccine companies, including Moderna Inc (NASDAQ:MRNA), are trading higher amid COVID-19 concerns due to rising cases in China.
Rising COVID-19 cases in China's capital Beijing and Shanghai, where enforcement of a strict "zero-COVID" policy is ongoing, have drawn global attention.
The world's second-largest economy has been struggling to completely stamp out the pandemic as traders and investors weigh increasing infections in the region.
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Moderna’s mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
According to data from Benzinga Pro, Moderna has a 52-week high of $497.49 and a 52-week low of $122.01.
