Why Moderna Shares Dropped Lower Today

Moderna Inc MRNA shares closed almost 3% lower in the regular session on Monday.

What’s Moving? The decline in Moderna shares comes as the U.S. Centers for Disease Control and Prevention explores if a third shot of the COVID-19 vaccine should be provided to the masses.

On Monday, CDC scientist Sara Oliver said at an advisory group meeting that data required to evaluate COVID-19 booster shots for the general population is limited, CNBC reported.

Vaccines that require more than one dose do not necessarily mean that annual boosters are needed,” said the scientist. 

See Also: How To Buy Moderna (MRNA) Shares

Shares of COVID-19 vaccine makers slipped post the news. Moderna shares closed 3.02% lower at $370.69 in the regular session and fell 0.85% to $367.53 in the after-hours trading.

Shares of BioNTech Inc SE BNTX, which makes a COVID-19 vaccine in partnership with Pfizer Inc PFE, closed 3.76% lower at $345 in the regular session. Pfizer shares closed 0.34% at $46.76.

Why It Matters: Moderna shares have shot up 254.83% since the year began emerging as the best performer on the S&P 500 Index. 

Oliver’s presentation at the meeting suggests that the advisory group may initially limit its recommendations for vaccine boosters to vulnerable groups and healthcare workers, CNBC noted.

This in turn would lead to less demand for the vaccine and thus affect the bottom lines of the manufacturers. 

Meanwhile, Moderna’s contamination troubles in Japan have intensified as two more regions of the country have temporarily halted the administration of its COVID-19 vaccine, reported Reuters.

The Japanese government reportedly said over Sunday that two people died after receiving the Moderna vaccine from the contaminated lots that have been suspended. Those deaths are now under investigation.

Read Next: EU Says Without EMA Approval COVID-19 Boosters May Face Higher Legal Risks: Reuters