Vaccine stocks make up a healthy portion of biotech exchange-traded fund XBI
Last week, we profiled biotech exchange-traded fund (ETF) SPDR S&P Biotech ETF (XBI) amid a historically bullish month. Going off of that, we're profiling XBI's three biggest holdings, Novavax Inc (NASDAQ:NVAX), Insmed Inc. (NASDAQ:INSM), and Moderna Inc (NASDAQ:MRNA).
NVAX is down 12.4% to trade at $15.91 today, with no specific catalyst to explain the gap lower, and on track for its worst single-session loss since Feb. 28. Thanks to the Sanofi (SNY) deal earlier in May, NVAX is up 226% in 2024. The security fresh off a June 6, 52-week high of $23.85 as well.
INSM is up 6.7% to trade at $60.64, and earlier hit a record high of $60.47, thanks to a price-target hike to $85 from $75 at Leerink. The shares are up 93% so far in 2024, and have come a long way since this year's May 24 low of $21.92.
Moderna stock is 1.7% lower to trade at $147.77 at last check, despite phase three trial data that indicated its combined Covid-19 and flu shot provided better protection than its standalone shots. MRNA is up 49.2% in 2024, forming a bull flag pattern on the charts.
