The first time we weighed in on Moderna (MRNA), it traded at $34.
Then, on May 7, 2020, we highlighted it as an opportunity again at $56.20, and noted, “If MRNA can continue to produce great news, it could be an $80 stock before long.”
We didn’t have to wait very long for $80.
At the moment, MRNA is up to $80 and exploding after reporting its vaccine produced COVID-19 antibodies in all 45 of its participants.
“These interim Phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits an immune response of the magnitude caused by natural infection starting with a dose as low as 25 [micrograms],” Tal Zaks, the chief medical officer at Moderna said, as quoted by CNBC.
“When combined with the success in preventing viral replication in the lungs of a pre-clinical challenge model at a dose that elicited similar levels of neutralizing antibodies, these data substantiate our belief that mRNA-1273 has the potential to prevent COVID-19 disease and advance our ability to select a dose for pivotal trials,” he added.
However, MRNA isn’t the only hot opportunity to consider.
Novavax (NVAX) could be another big runner.
All on news of additional funding of up to $388 million from the Coalition of Epidemic Preparedness (CEPI) for its COVID-19 vaccine candidate NVX-CoV2373. Analysts were pleased with the news. HC Wainwright reiterated a buy on NVAX with a price target of $50. B. Riley FBR maintained its buy rating with a price target of $43.