Moderna shares jump, analysts cite U.S. HHS lawsuit
Shares of vaccine maker Moderna MRNA.O up 11% at $33.20
On Monday, leading medical organizations filed a lawsuit against U.S. Health Secretary Robert F. Kennedy Jr. and Department of Health and Human Services, arguing that current policies on COVID-19 vaccines pose an imminent threat to public health
B. Riley Securities analyst Mayank Mamtani said the share movement likely reflects "a reversal of peak negative investor sentiment, with now there being some near-term events, both vaccine advisory committee (VRBPAC) and lawsuit-related."
Other vaccine makers like Pfizer PFE.N and Novavax NVAX.O up 1.6% and 6.7%, respectively
Mamtani cites recent late-stage study data for COVID-influenza combination and standalone flu vaccines as an additional driver for NVAX stock
Including sessions' moves, MRNA has lost 20.2% YTD, while NVAX is down 11.4%
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