- Investors are posting multimillion-dollar gains from Moderna’s soaring stock price, profiting from the company’s bid to offer a coronavirus vaccine.
- Moderna spiked 30% between Monday and Tuesday’s trading sessions. The biotech firm was one of the few US stocks to post major gains while the broader market slumped on intensifying outbreak concerns.
- Here are the top 10 Moderna shareholders and how much they profited from the two-day rally, ranked in ascending order.
- Watch Moderna trade live here.
Investors are pulling in hundreds of millions of dollars worth of gains from soaring biotech stocks as the race for coronavirus drugs intensifies.
Drug developer Moderna spiked 30% between Monday and Tuesday’s trading sessions, beating out a plunging market by shipping the first coronavirus vaccine for human testing. The firm submitted vials of mRNA-1273 for phase one trials in the US just 42 days after identifying the key RNA sequence to target, according to a Monday press release.
Moderna shares gained 2% on Monday as the broader market slumped the most in two years. The biotech company soared as much as 43% in Tuesday’s session before paring some gains.
Moderna’s stock jump arrived one day after biotech company Gilead notched a similar uptick. The firm soared as much as 11% Monday after a World Health Organisation official said its remdesivir compound could be the best bet for treating coronavirus cases. Gilead’s drug is undergoing human trials in China, with results expected to be released in April.
Here are the top 10 shareholders to ride Moderna’s two-day stock rally, ranked in ascending order of profit. Gain figures are calculated from the spike between February 21’s close and the closing price on February 25. Holdings data are sourced from Bloomberg.
10. Stephane Bancel
Shares held: 7,456,986
About: Bancel serves as the biotech company’s CEO and as a venture partner for Flagship Pioneering, the firm that founded Moderna. He previously acted as CEO at French diagnostics company bioMérieux and at Eli Lilly and Company.
9. OCHA LLC
Shares held: 7,953,216
About: Bancel serves as the majority equity holder and sole managing member of OCHA. The CEO has previously used the LLC to buy Moderna stock.
8. Boston Biotech Ventures
Shares held: 9,232,886
About: Boston Biotech Ventures serves as another holding firm for Bancel to buy and sell Moderna shares.
7. TAS Partners
Shares held: 10,828,850
About: TAS serves as a holding company for Dr. Timothy Springer and Dr. Chafen Lu. Springer has helped several young biotech companies get off the ground, and was among Moderna’s biggest shareholders before its initial public offering.
6. Robert S. Langer
Shares held: 11,509,357
About: A scientist, inventor, chemical engineer, and professor at MIT, Langer serves on Moderna’s board of directors. He has helped found several other biotech firms, both on his own and in partnership with venture capital firm Polaris Partners.
Shares held: 11,724,018
About: BlackRock holds Moderna shares across several investment products. Moderna is the highest-weighted company in BlackRock’s iShares Genomics Immunology and Healthcare ETF.
Shares held: 16,034,456
About: Fidelity holds millions of shares of Moderna through the numerous index funds it offers to clients.
3. Vanguard Group
Shares held: 17,319,037
About: Investment adviser giant Vanguard holds millions of Moderna shares through several of its funds, including its Total Stock Market Index Fund, Small-Cap ETF, and Extended Market ETF.
Shares held: 25,499,325
About: AstraZeneca and Moderna announced an exclusive partnership to develop messenger RNA therapeutics in 2013 for numerous serious diseases and cancers. AstraZeneca made an upfront investment of $US240 million for exclusive access to targeting specific diseases through the therapeutics.
1. Flagship Pioneering
Shares held: 50,867,600
About: A well-known healthcare venture capital fund, Flagship Pioneering founded Moderna in 2010. The biotech company’s CEO joined Flagship in 2013 and serves as a venture partner.
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