This Congressman Is Reaping Rewards of Surge in Moderna Stock

Moderna (MRNA:US) shares had a remarkable trading day on Tuesday after strong results for the company’s cancer vaccine sent the stock soaring almost 20% higher.

Developed in partnership with Merck (MRK:US) and in combination with KEYTRUDA, cancer vaccine MRNA-4157/V940 demonstrated a "statistically significant and clinically meaningful reduction in the risk of disease recurrence or death compared to KEYTRUDA monotherapy in stage III/IV melanoma patients.”

Two companies said the Phase 2b trial results showed the vaccine reduced the risk of recurrence or death by 44% versus when using KEYTRUDA alone.

In response to very solid trial results, MRNA stock gained to trade at 10-month highs, near the $200 per share mark. This week’s rally in Moderna shares is especially positive for investors who saw the meaningful pullback this year as a buying opportunity. Rep. Ro Khanna, Congressman from California, is one of them.

Congressman Khanna has been buying Moderna shares on a regular basis throughout 2022. Although he also sold some shares on a couple of occasions, he was adding to his MRNA position almost every month until the fourth quarter.

Khanna was buying Moderna stock in the approximate range of $120-170 throughout 2022 with shares closing at $197.54 on Tuesday, implying healthy profits for the Congressman.

Rep. Khanna mostly trades tech stocks, with Alphabet (GOOGL:US), Meta Platforms (META:US), and AT&T (T:US) topping the list of his favorite stocks for trading.