Moderna Tops S&P 500 With 663% Gain as Cancer Vaccine Data Nears
Moderna shares are up about 663% in 2026, outrunning AI-linked names for the S&P 500's best performance, with full cancer vaccine data due October 24.
Moderna has climbed roughly 663% so far in 2026, making the vaccine maker the best-performing stock in the S&P 500 and placing it ahead of the AI-related companies that have dominated index returns.
The next scheduled catalyst is full data from the company's cancer vaccine program, which is slated to arrive on October 24.
A different kind of index leader
The move marks a shift in what is driving the benchmark's top slot. Semiconductor and AI infrastructure names have accounted for much of the index's gains in recent periods, while Moderna's advance is tied to expectations around its mRNA pipeline rather than computing demand.
The October 24 readout is the near-term event the stock is trading around. Index leadership in a single name can change quickly, and the reported figures reflect performance to date rather than a settled outcome for the year.