Moderna Inc. (MRNA) is making headway in its quest to expand beyond COVID-19, and investors are taking notice. The biotech's stock ticked up in Wednesday's premarket trading, building on a 3.4% gain from the prior session, as the company announced it has started human testing for an Ebola vaccine.

Moderna Begins Phase 1 Trial For Ebola Vaccine

The vaccine, dubbed mRNA-1469, is designed to prevent Bundibugyo ebolavirus disease, a strain for which there are currently no licensed vaccines. The Phase 1 trial is underway in Canada, thanks to a collaboration with the Coalition for Epidemic Preparedness Innovations (CEPI), which has pledged up to $50 million to support preclinical work and the early-stage study.

That funding also covers scaled manufacturing of additional clinical trial doses, alongside early-stage development. The idea is to hit the ground running: if Phase 1 results look good, Moderna can quickly move into larger Phase 2 and Phase 3 studies.

As part of the deal with CEPI, Moderna has committed to making at least 500,000 doses available at access pricing for timely distribution to low- and middle-income countries. That's a nod to the global health mission, but it also signals the company is thinking about real-world impact from the get-go.

Analyst Outlook

Wall Street is cautiously optimistic, with the stock carrying a consensus Hold rating and an average price target of $52.11. Recent analyst moves include:

• Citigroup: Neutral; raised price forecast to $60 on Aug. 3.
• Goldman Sachs: Neutral; raised price forecast to $67 on July 21.
• Morgan Stanley: Equal-Weight; raised price forecast to $39 on July 8.

ETF Exposure

For those who prefer a basket approach, several healthcare and biotech ETFs hold Moderna shares, giving investors indirect exposure. Key funds include:

• iShares Biotechnology ETF (IBB): 2.25% weighting.
• Invesco S&P 500 Equal Weight Health Care ETF (RSPH): 2.44% weighting.
• Invesco Dorsey Wright Healthcare Momentum ETF (PTH): 2.51% weighting.

Large inflows or outflows from these funds can influence buying and selling activity in Moderna shares, so it's worth keeping an eye on them if you're tracking the stock.

Price Action

Moderna shares were up 1.25% at $57.70 during premarket trading on Wednesday, according to market data.