Moderna (MRNA) and Pharma Stocks Surge Amid Hantavirus Concerns

AI Summary

Following the World Health Organization's announcement of a hantavirus outbreak on May 2, several pharmaceutical stocks, including Moderna (MRNA), experienced significant gains. Moderna's shares increased by 7% in premarket trading as the company is conducting preclinical research on the hantavirus. Inovio Pharmaceuticals reported a 13% rise, while Emergent Biosolutions and Novavax gained 4% and 3%, respectively. Analysts from Evercore ISI suggested that any revenue potential for Moderna related to hantavirus is unlikely, viewing stock movements as sentiment-driven rather than fundamentally driven.