Why This Investor Thinks The Moderna Sell-Off Is A 'Phenomenal' Buying Opportunity

The sell-off in Moderna Inc MRNA stock is a phenomenal buying opportunity for investors with a long-term outlook, Short Hills Capital's Steve Weiss said Wednesday on CNBC's "Fast Money Halftime Report."

Moderna got ahead of itself, as momentum stocks often do, Weiss said —yet he said the fundamentals are improving as the stock trades lower. 

New data suggests Moderna's COVID-19 vaccine may be superior to Pfizer Inc's PFE vaccine, he said. 

Weiss told CNBC he sold a portion of his position after the stock rallied Tuesday, but Moderna remains a "very large position" in his portfolio. 

The sell-off is a buying opportunity for investors with a long-term view, he said, adding that long-term doesn't have to mean 10 years. It could be three or six months. 

"The stock is still the cheapest stock I own. They are still going to earn $30 this year, which puts them at 10 times [earnings] growing exponentially with a technology platform, in my view, that is comparable to Amazon.com Inc AMZN or Apple Inc AAPL," Weiss said.

"This story is just beginning."

Related Link: Why This Investor Just Compared Moderna To Amazon, Sees 500% Upside

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $54.21 over a 52-week period. 

At last check Wednesday, the stock was down 16.16% at $382.96.

Photo by Spencer Davis from Pixabay.