MRNA stock is looking stronger after the reported new variant omicron. We also detected bullish option flow in the stock on November 29, 2021.
Moderna CEO Stephane Bancel told CNBC that it could take months to develop and ship an omicron-specific vaccine, but a higher dose of its booster could be ready much sooner. Source: https://www.cnbc.com/2021/11/29/moderna-ceo-says-it-will-take-months-to-clear-a-new-covid-vaccine-targeting-omicron.html
Moderna has multiple booster candidates to combat omicron, says Piper Sandler
Piper Sandler analyst Edward Tenthoff reiterates an Overweight rating on Moderna with a $348 price target after the company announced plans to combat the new omicron variant. Moderna measures the protection of a higher dose mRNA-1273 booster against omicron and is already testing two multi-valent boosters in the clinic, including mRNA-1273.211 and mRNA-1273.213, Tenthoff tells investors in a research note. In addition, the company will rapidly develop an omicron-specific booster mRNA-1273.529, which could enter the clinic within 60-90 days, says the analyst. He says Moderna is better positioned to create a novel Covid-19 vaccine and can now manufacture several hundred million vaccine doses every month. SARS-CoV-2 “is not going away and will provide years of future revenues” for Moderna, says Tenthoff.
Bullish Option Flow In MRNA Stock
Make sure to review this lesson on option flow so that you understand the image above.
MRNA Stock Technical Analysis
The positive divergence between the large players volume and price of Moderna is very bullish. When comparing the yearly performance of all stocks, we notice that MRNA is one of the better-performing stocks in the market, outperforming 95% of all stocks. We also observe that the gains produced by MRNA over the past year are nicely spread over this period. MRNA is one of the better-performing stocks in the Biotechnology industry; it outperforms 95% of 611 stocks in the same industry. MRNA has an average technical rating, and it also does not offer a high-quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when MRNA stock is a good buy.
