It's a good day to be a Moderna shareholder. And apparently, that includes the President of the United States.
Moderna Inc. (MRNA) stock soared Wednesday after the company and Merck reported positive Phase 3 results for a personalized mRNA cancer vaccine, a major milestone for the technology. Shares jumped more than 100%, reaching levels not seen since May 2024.
Among the Moderna shareholders riding this wave is President Donald Trump, whose portfolio has been in the spotlight lately thanks to newly accessible financial disclosures.
Trump's Moderna Moves
In recent months, investors and voters have gained access to files containing tens of thousands of Trump's stock transactions. Among them are three Moderna trades from 2026, as reported by Quiver Quantitative:
- March 2: Buy $15,000 to $50,000 MRNA stock
- March 16: Buy $1,000 to $15,000 MRNA stock
- July 1: Sell $1,000 to $15,000 MRNA stock
The July sale cancels out the most recent buy, but Trump never fully sold his Moderna stake. The White House insists his holdings are managed by a blind trust, meaning the president may not know exactly what he owns.
"Trump never fully sold Moderna," the Nancy Pelosi tracker on X said Wednesday.
Let's do some math. On March 2, Moderna stock traded as high as $54.94. Based on a purchase of $15,000 to $50,000, Trump's portfolio added between 273.03 and 910.08 MRNA shares.
With the stock up Wednesday, those shares are now worth $42,360.60 to $141,198.91, based on a stock price of $155.15 at the time of writing.
That means Trump's portfolio gained a cool $27,360.60 to $91,198.91 on MRNA stock over five months, with shares up 182% since that first 2026 purchase.
A President's Portfolio Grows
Trump's critics have long scrutinized his profiteering since the 2024 election, alleging insider trading, questionable cryptocurrency ventures, and donor-linked contracts. That hasn't hindered the president in the least.
A look at Trump's disclosed trades from 2025 shows four purchases in the $1,000 to $15,000 range and one in the $50,000 to $100,000 range. The filing also shows three sales in 2025, two in the $1,000 to $15,000 range and one in the $50,000 to $50,000 range. This suggests the president's portfolio may have even more exposure to Moderna from last year.
Like members of Congress, Trump only has to disclose transactions in ranges and report them within 45 days of when they were made.
Moderna Stock Soars
Moderna stock soared Wednesday after the company released topline results from the Phase 3 INTerpath-001 trial, which uses mRNA-4157 (Intismeran autogene) in combination with Merck & Co.'s (MRK) Keytruda. The trial covers patients with stage IV melanoma.
The results show that the combination and personalized mRNA treatment could keep advanced skin cancer from returning. The vaccine is designed specifically for each patient.
This marks the first Phase 3 win for mRNA cancer therapy and has provided optimism for the future of the treatment against skin cancer and the potential to advance other personalized vaccine options for cancer.
Merck and Moderna have nine Phase 2 and Phase 3 trials in the INTerpath clinical program covering melanoma, non-small cell lung cancer, bladder cancer, and renal cell carcinoma, along with Phase 1 trials for lung, gastric, and pancreatic cancers.
Photo: Tada Images / Shutterstock
