Moderna snaps two-day losing streak ahead of FDA booster update

Moderna Inc. and BioNTech SE jumped, ending a two-day plunge, ahead of an expected update from U.S. regulators on the authorization of a booster Covid vaccine shot.

Moderna’s stock rebounded Thursday, climbing 4.2% to $401.69 at 11:49 a.m. in New York after the vaccine maker and its peer BioNTech lost $60 billion in value in the two prior sessions. Moderna is still below Monday’s intraday record. After a June lull with less than 10 million shares trading daily, interest has picked back up with nearly 54 million shares changing hands on Wednesday. Anticipation is building ahead of an expected update from U.S. regulators on getting a third jab for people with compromised immune systems. The Food and Drug Administration is expected to update authorizations on the inoculations from BioNTech and its partner Pfizer Inc. as well as Moderna, as soon as Thursday.