Moderna stock cements lead as S&P 500's top performer of 2021
The White House & the COVID-19 Response Team to review boosters
Moderna's stock cemented its position as the top performer in the S&P 500 for 2021, rising another 7.5% on Tuesday ahead of a meeting between the White House and the COVID-19 Response Team set for today in which next steps for boosters are expected to be discussed.
The Centers for Disease Control and Prevention has administered 357,894,995 million doses through Aug. 16, with Pfizer-BioNTech leading Moderna in both administered and delivered doses.
Despite the lead, Moderna stock has locked in annual gains of more than 285%, making it the top annual performer for the broadest measure of the U.S. stock market, even with a slight pullback from hitting its high of $497.17 per share.
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Moderna CEO Stephane Bancel told FOX Business earlier this month the company is on track to deliver 1 billion doses this year, with even higher expectations for 2022 depending on confirmed clinical dosages.
"It would be between 2 and 3 billion doses, so I expect we would be able to double the output next year, maybe even triple it" he said.
Additionally, Bancel discussed the company's improving balance sheet.
"We are now sitting on $12.2 billion of cash," he noted, adding that "the board authorized a share buyback of up to $1 billion" as the company reported quarterly results.
Steelmaker Nucor is the S&P 500's second-best performer, with annual gains of 125%.