Moderna Stock Creeps Higher As FDA Panel Considers Covid Booster Shot

Moderna stock popped Thursday as a Food and Drug Administration panel of experts met to discuss the merits of its Covid booster shot.


The FDA’s Vaccines and Related Biological Products Advisory Committee will decide whether to recommend a booster from Moderna (MRNA) six months after the second shot. The committee will consider the booster for older Americans and adults at risk of severe Covid due to preexisting conditions or the potential for workplace exposure.

Earlier this week, the FDA offered a glimpse into its thinking on the topic. In a document meant to brief the advisory committee members, the FDA noted all authorized and approved Covid vaccines in the U.S. remain highly effective against severe disease and death.

Still, that day Moderna stock jumped 2%. In midday trading on today’s stock market, shares advanced 2.2% near 328.60.

Moderna Stock Rises

If successful at the advisory committee, the full FDA will make a decision on Moderna’s shot. The FDA isn’t bound by the advisory committee’s recommendation, but it often follows along with the experts’ vote.

Moderna will also have to make its case before the Centers for Disease Control and Prevention. That agency has its own advisory committee of experts.

Pfizer (PFE) and BioNTech (BNTX) recently went through the same process. The CDC’s advisory committee declined to recommend booster shots for adults at risk due to workplace exposure. But the full CDC decided to make the booster available to all older adults, as well as people at risk due to preexisting conditions and the potential for workplace exposure.

Moderna stock leapt more than 3% the following day. The vaccines from Moderna and Pfizer with its partner BioNTech use messenger RNA technology to prompt an immune system response. But in a recent CDC analysis, Moderna’s original two-dose regimen outperformed Pfizer’s in terms of lowering the risk of all Covid.

The panel is also set to meet Friday to discuss Johnson & Johnson‘s (JNJ) proposed booster shot.

Shares Between Moving Averages

Moderna stock is currently sandwiched between its 50-day and 200-day averages, according to

Still, shares have a strong IBD Digital Relative Strength Rating of 98 out of a best-possible 99. This puts Moderna stock in the top 2% of all stocks in terms of 12-month performance.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.


InMode Stock Surges After IBD 50 Stalwart Crushes Views; Why It’s Even More Bullish For 2021

Why Crispr’s Gene-Editing Dive Helped Reinvigorate Its Chief Rival, Allogene

See Stocks On The List Of Leaders Near A Buy Point

IBD Stock Of The Day: See How To Find, Track And Buy The Best Stocks

Learn How To Time The Market With IBD’s ETF Market Strategy

Most Related Links :
honestcolumnist Governmental News Finance News

Source link

Back to top button