Jim Cramer Says Moderna 'Excellent Company And Stock' With Reach Beyond COVID-19

CNBC host Jim Cramer believes biotechnology company Moderna Inc. MRNA is an “excellent company and stock” that has a reach far beyond COVID-19.  

What Happened: Cramer made the comments on Twitter.

On CNBC’s “Mad Money Lightning Round” earlier this month, Cramer said he prefers Moderna stock over Novavax Inc. NVAX.

“I have to tell you even after today’s run in Moderna, I still prefer Moderna’s stock than Novavax because I think that Moderna can do a lot more with its formulation than Novavax ever can,” Cramer said.

See Also: The Daily Biotech Pulse: Gemini Sinks On Data, Amgen's Migraine Drug Approved In Japan, Liver Congress Gets Underway

Why It Matters: Shares of Moderna and other COVID-19 vaccine companies – Pfizer Inc. PFE and its German partner BioNTech SE BNTX - fell in Wednesday’s trading session after a report prepared by a CDC safety group warned about the risk of heart inflammation in young adults receiving COVID-19 vaccines.

Both Moderna and Pfizer-BioNTech recently received authorizations for use of their mRNA vaccines in adolescents. Revenue from the COVID-19 vaccines has significantly contributed to the companies' top-line growth.

Meanwhile, Novavax is on the verge of getting conditional approval for its coronavirus vaccine candidate, NVX-CoV2373. The company recently reported positive results for the U.S. leg of the Phase 3 trial of its vaccine candidate.

Price Action: Moderna shares closed 4.2% lower in Wednesday’s trading session at $212.04.

Read Next: 14 Biotech Stocks To Watch Over The Next 6 Months

Photo by Governor Tom Wolf on Flickr