Pfizer and Moderna Shares Break Out. Here’s the Trade.

Drug stocks have been on fire lately, and over the past few weeks, the two leading covid-19 vaccine makers, Pfizer  (PFE) – Get Free Report and Moderna  (MRNA) – Get Free Report, have surged 

Moderna rallied more than 19% on Tuesday and climbed another 5.8% on Wednesday despite the Federal Reserve’s hawkish tone and the decline in the overall market.

Shares of Moderna are now up more than 78% from the low they made in October.

The latest rally came after “a Moderna experimental melanoma vaccine combined with Merck & Co.’s  (MRK) – Get Free Report immunotherapy Keytruda reduced the risk of relapse in people with skin cancer in a trial.”