Moderna Inc (NASDAQ: MRNA) is a phenomenal long-term investment, but the stock could be volatile ahead of the FDA Advisory Committee meetings this week, Short Hills Capital's Steve Weiss said Wednesday on CNBC.
The FDA is set to hold Thursday its Vaccines and Related Biological Products Advisory Committee meeting to discuss the use of booster doses of the Moderna COVID-19 vaccine.
"It's sort of like good news bad news because their vaccine is so effective the efficacy is only dropping from 95% to 85% after six months versus Pfizer that's gone from 94%, 95% down to 55% after six months," Weiss said.
He expects the FDA to ultimately approve the booster and given the superior efficacy profile of Moderna's booster over Pfizer's: "if you have a choice, you are going to take the Moderna booster."
Related Link: How To Play Moderna Stock Ahead Of Key FDA COVID-19 Booster Shot Ruling
The Moderna booster has the potential to double the company's production and increase its earnings, Weiss said.
"If you don't care about a possible dislocation over the next few days, I think the stock is extraordinarily cheap based on the fundamentals right now and incredibly cheap as you go out and their technology comes to fruition. This is not biotech, this is technology."
Weiss said Moderna is his "largest position by far" and he views the investment as a long-term story.
MRNA Price Action: Moderna has traded as high as $497.49 and as low as $65.49 over a 52-week period.
The stock was up 3.13% at $320.87 at the time of publication.
Photo: Mufid Majnun from Pixabay.
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