Moderna (MRNA) has done very well for us.
So far, we’ve recommended it at $34 and again at $56.20. It’s now up to $74, and is offering us another opportunity on a pullback.
Earlier this week, the COVID-19 vaccine stock plummeted from a high of $87 to $73. All after STAT News noted that some vaccine experts were skeptical of the MRNA data. In fact, they noted the Moderna study did not provide critical information to assess effectiveness.
However, according to MRNA Chairman Noubar Afeyan, Moderna would never put out data that was “different from reality,” as quoted by CNBC. “We take what we do very seriously. We would not have not put out some of the data to make anything look any different from reality.”
Despite the criticism, Moderna is expected to launch Phase II trials in coming weeks. Phase III is expected to begin by July 2020. As MRNA pushes forward with the vaccine, the stock is beginning to recover, giving us another opportunity to buy.
From current prices, we could see a near-term test of $80 again.