Moderna Inc (NASDAQ: MRNA) is a phenomenal long-term investment, but the stock could be volatile ahead of FDA advisory committee meetings this week, said Short Hills Capital’s Steve Weiss said on CNBC on Wednesday.
The FDA will hold its advisory committee on vaccines and related biologics Thursday to discuss the use of booster doses of the Moderna COVID-19 vaccine.
“It’s kind of like good news, bad news, because their vaccine is so effective that efficacy only drops from 95% to 85% after six months versus Pfizer which dropped from 94%, 95% to 55% after six months.” Weiss said. .
He expects the FDA to eventually approve the booster, and given the superior efficacy profile of Moderna’s booster over Pfizer’s, “if you have a choice, you are going to take the Moderna booster.”
The Moderna booster has the potential to double the company’s production and increase revenue, Weiss said.
“If you’re not concerned about a potential disruption in the next few days, I think the stock is extremely cheap right now based on fundamentals and incredibly cheap if you go out and their technology matures. This isn’t biotech, this is is technology.”
Weiss said Moderna is his “biggest position by far” and he sees the investment as a long-term story.
MRNA Price Action: Moderna has traded as high as $497.49 and as low as $65.49 over a 52-week period.
The stock rose 3.13% to $320.87 at the time of publication.
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