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The capital of Short Hills Steve weiss continues to add to his Moderna Inc (NASDAQ: MRNA) as the stock continues to fall, he said in CNBC’s “Quick Money Halftime Report” Monday.
What happened: Moderna has been selling since Merck & Co Inc (NYSE: MRK) has reported positive results for its oral treatment for COVID-19.
Merck’s oral antiviral molnupiravir reduced the risk of hospitalization or death by approximately 50% compared to placebo for patients with mild to moderate COVID-19 in the interim phase 3 analysis. The company said that it planned to submit an emergency use authorization application to the US FDA as soon as possible.
Related Link: Why Moderna Shares Keep Falling Today
Weiss’s take: Merck’s therapeutic treatment is not a substitute for preventative treatments like Moderna’s vaccine, Weiss said.
“For me, it’s silly to say that I’m not going to get vaccinated because I have a 50% more chance of not being hospitalized or of not dying while taking this pill,” he said. declared. It doesn’t make sense for the stock to sell on Merck News, Weiss added.
As the stock falls, fundamentals continue to improve, he said.
Weiss noted that Moderna has become his biggest position to date and that he still thinks it’s the cheapest stock he owns.
Action on mRNA prices: Moderna traded up to $ 497.49 and up to $ 65.48 over a 52 week period.
The stock was down 4.66% to $ 325.17 at the time of publication.
Photo: Mufid Majnun from Pixabay.
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