Moderna (NASDAQ: MRNA), pharmaceutical giant, is on its second stage of coronavirus vaccine. mRNA shares – to date – have risen nearly 160%. The company is one of a handful of biotechnologists working on a vaccine that is close to getting approval against the virus that causes COVID-19.
Moderna shares soared as much as 16% on Thursday after the company announced that its experimental coronavirus vaccine had been approved by the Food and Drug Administration following a phase 2 trial. In Thursday’s rally, Moderna shares were trading at $50.48, more than 20 percent higher than the previous day. This suggests that investors have been more active in the stock lately than usual.
The approval is an important milestone for Moderna, one of the leading pandemic candidates, and an important step in the development of a new vaccine against coronavirus.
They could start production of its flu vaccine for the US market by September 2020. The stock has some downside risk because there is always a significant risk of failure of its vaccine, which is in late development. The next stage of trials will most likely determine the fate.
Is Moderna Stock (MRNA) A Buy?
Is Moderna (MRNA) a buy? I think MRNA is a buy if you fully understand the risks and enter in on the dip. AlphaBetaStock readers will recall this was one of our “Coronavirus” stock picks. This stock has increased dramatically on the news of a vaccine. If the trials fail, expect MRNA to drop like a rock.
Moderna has had a leg up on rivals since it said it could produce up to 900 million vaccines by early 2021. MRNA is currently rated Zacks Rank 2, and it is expected to work within the next few years to create a market for its flu vaccine in the U.S. market. A rating is a strong buy recommendation, while a 5 would mean a strong sell and a 3 hold. A 2 stands for Buy, a 4 for Sell and a 4 for Sell, with an 0 for Hold and a 1 for No Buy.
MRNA currently has $250.23 million of floating stock, it also has $315.69 million of outstanding stock as of June 30.
The 20-day RSI for MRNA is 62.60, suggesting that the stock is not vulnerable to reactive price movements based on this measure. The 20-day stochastics, at 72.17, tells a different story, suggesting that MRNA is currently trading in overbought territory. Analysts are generally optimistic in their outlook ForMRNA shares next year. A + 1 is a strong buy, while a + 2 is a 2, meaning analysts are optimistic about the company’s long-term prospects for the US market.
So far this year, Moderna Inc. (NASDAQ: MRNA) has touched its current 52-week trading range and is now at its highest level in more than two years. There are also 11 analysts aiming for a consensus target of $83.00. The current level is the highest in the company’s history and the third-highest since the beginning of the year.
1 Day MRNA Moving Averages
Name Value Action
Exponential Moving Average (5) 50.26 Buy
Simple Moving Average (5) 49.98 Buy
Exponential Moving Average (10) 48.79 Buy
Simple Moving Average (10) 48.87 Buy
Exponential Moving Average (20) 45.40 Buy
Simple Moving Average (20) 45.62 Buy
Exponential Moving Average (30) 42.25 Buy
Simple Moving Average (30) 40.92 Buy
Exponential Moving Average (50) 37.53 Buy
Simple Moving Average (50) 35.17 Buy
Exponential Moving Average (100) 30.95 Buy
Simple Moving Average (100) 27.67 Buy
Exponential Moving Average (200) 25.77 Buy
Simple Moving Average (200) 21.93 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 42.91 Neutral
Volume Weighted Moving Average (20) 47.31 Buy
Hull Moving Average (9) 51.14 Buy
1 Day MRNA Oscillators
Name Value Action
Relative Strength Index (14) 68.87 Neutral
Stochastic %K (14, 3, 3) 61.45 Neutral
Commodity Channel Index (20) 99.27 Neutral
Average Directional Index (14) 53.46 Neutral
Awesome Oscillator 10.64 Buy
Momentum (10) 5.75 Sell
MACD Level (12, 26) 4.70 Sell
Stochastic RSI Fast (3, 3, 14, 14) 20.40 Neutral
Williams Percent Range (14) −24.04 Neutral
Bull Bear Power 11.43 Neutral
Ultimate Oscillator (7, 14, 28) 54.63 Neutral
Evidence-based financial writer with 9 years of experience specializing in earnings, economic data coverage, and bond markets. I combine fundamentals, technicals, and macro to identify low-risk, asymmetric opportunities.