Is Moderna Inc (NASDAQ:MRNA) Stock A Good Investment at Below $300?
Considering its work with COVID-19 vaccines, the Moderna Inc (NASDAQ:MRNA) stock had been one of the more popular bets for plenty of investors over the course of the past 18 months.
Market Stats
On Monday, MRNA stock moved up 7.17% at $282.69 with more than 13.82 million shares, compared to its average volume of 12.76 million shares. The stock has moved within a range of $264.20 – 289.00 after opening trading at $268.07.
Key Analysis
The vaccine, which was brought to the market in only nine months, managed to generate billions in the form of profits and hence, it was no surprise that the stock soared as well. The stock had generated gains of as much as 233% in 2021 up until the company announced its financial results for the third quarter some weeks ago. In this situation, it is important for investors to figure out if the 33% correction in the stock following its results is an opportunity or not.
The coronavirus pandemic is no longer a raging crisis anymore and hence, it is important for investors to consider the appeal of Moderna in a post-pandemic era. As it happens, the company slashed its projections for coronavirus vaccine sales for the year to the $15 billion to $18 billion range.
Additionally, in the third quarter, the company missed Wall Street estimates of $6.21 billion in revenues by a long way as it brought in revenues of $4.97 billion. Hence, it is now time for investors to start taking a closer look into other offerings from the company.
Traders Corner
MRNA stock is trading above the 20-Day and 200-Day Moving averages of $274.50 and $256.64 respectively. However, the stock is trading below the 50-Day moving average of $332.17. The stock is up 20% in the past week.
