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Moderna: is it still the leader in COVID-19 fight?
Information is not investment advice
While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.
Moderna has performed really well and skyrocketed close to 250% higher this year so far. If you had invested in it at the right time, you would have doubled or, in the best case, even tripled your account. Does it still have the potential to the upside? Opinions are divided.
On the one hand, Moderna revealed positive phase-1 results for a COVID-19 vaccine on May 18, what made it one of the most promising candidates in this race. The stock price reached its peak at $86 that day.
On the other hand, vaccine experts raised doubts about the potential effectiveness of the Moderna’s vaccine as the company revealed too little information. That pushed the stock price down to $70. Moreover, so many competitors have appeared, more than 100 already. The main competitor is Pfizer as it uses the same technology as Moderna.
Now everybody’s waiting for the phase-2 results. Follow the news as it can cause price movements. These days the price trades near $70. The retracement line is 73.5. Support levels are 62 and 48.
Consider buying these stocks
Inovio
INO stock has outperformed its competitors in 2020, posting gains over 390%. This is a very reliable company with a long history. It’s famous for its effective treatment to clinic for Ebola in 15 months, nine months for MERS and, six and a half months for Zika. It will release its first tests in June.
Gilead
This biotech company created the first coronavirus treatment that was approved by the government. You’ve probably heard of remdesivir. Clinical trials showed it reduced the recovery time required for some patients. Now the company just donates its medicine to hospitals in a huge amount. The question now is what the price will be when the company starts selling it. Piper Sandler analysts anticipate it may bring up to $2 billion in revenue in 2020. So, this company has a really great potential.
Investors from all over the world focus on biotech stocks now as it’s the great chance to make profit without many efforts. It appears not so often. Don’t miss it!
Kseniya Medik
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