Why Moderna Shares Dipped On Tuesday
Moderna (NASDAQ:MRNA) shares are trading lower on reports suggesting the company is having supply issues.
According to a Reuters report, the company said that it does not have a sufficient stock of vaccines in storage to smooth shortfalls or delays and said the current delay can lead to short-term adjusting in the coming 2-4 weeks.
Moderna is a biotechnology company that develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases and auto-immune diseases. As of March 2021, the company had 13 programs in clinical trials and a total of 24 development programs in six modalities.
At the time of publication, shares of Moderna were trading 2.9% at lower at $326.29. The stock has a 52-week low of $54.21 and a 52-week high of $362.
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